TY - JOUR
T1 - The effect of corporate culture on firm performance
T2 - Evidence from China
AU - Zhao, Hailin
AU - Teng, Haimeng
AU - Wu, Qiang
N1 - Publisher Copyright:
© 2018 Sun Yat-sen University
PY - 2018/3
Y1 - 2018/3
N2 - 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.
AB - 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.
UR - https://www.scopus.com/pages/publications/85042856348
UR - https://www.scopus.com/pages/publications/85042856348#tab=citedBy
U2 - 10.1016/j.cjar.2018.01.003
DO - 10.1016/j.cjar.2018.01.003
M3 - Article
AN - SCOPUS:85042856348
SN - 1755-3091
VL - 11
SP - 1
EP - 19
JO - China Journal of Accounting Research
JF - China Journal of Accounting Research
IS - 1
ER -