The effect of corporate culture on firm performance: Evidence from China

Haimeng Teng · Qiang Wu

100 citations0/0 files storedChina Journal of Accounting Research

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Management and Organizational Practices Corporate Finance and Governance Corporate Identity and Reputation

Abstract

This study examines whether corporate culture promotion affects firm performance in China in terms of firm market value, firm financial performance and innovation output. We find consistent evidence that corporate culture promotion is negatively related to firm market value, positively related to innovation output and not significantly related to firm financial performance. In addition, the negative effect of corporate culture promotion on firm market value is driven by small firms and firms located in less developed provinces. Furthermore, we find that some specific corporate culture promotions, such as innovation culture promotion and integrity culture promotion, are not related to firm value or financial performance. However, innovation culture promotion is positively associated with innovation output.

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References

1993Organizational culture and leadership 1991Earnings Management During Import Relief Investigations 2003Earnings Management through Real Activities Manipulation 1983Concepts of Culture and Organizational Analysis 1986Organizational Culture: Can It Be a Source of Sustained Competitive Advantage?1992Corporate Culture and Performance 2005Market value and patent citations 2008Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes-Oxley Periods

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