The Value of Corporate Culture

Luigi Guiso, Paola Sapienza and Luigi Zingales

No 1327, EIEF Working Papers Series from Einaudi Institute for Economics and Finance (EIEF)

Abstract: We study which dimensions of corporate culture are related to a firm’s performance and why. We find that proclaimed values appear irrelevant. Yet, when employees perceive top managers as trustworthy and ethical, firm’s performance is stronger. We then study how different governance structures impact the ability to sustain integrity as a corporate value. We find that publicly traded firms are less able to sustain it. Traditional measures of corporate governance do not seem to have much of an impact.

Pages: 45 pages
Date: 2013, Revised 2013-10
New Economics Papers: this item is included in nep-bec, nep-hrm and nep-soc
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Citations: View citations in EconPapers (11)

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Related works:
Journal Article: The value of corporate culture (2015)
Working Paper: The Value of Corporate Culture (2013)
Working Paper: The Value of Corporate Culture (2013)
Chapter: The Value of Corporate Culture (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eie:wpaper:1327

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