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

作     者：Hailin Zhao Haimeng Teng Qiang Wu 

作者机构：School of Accounting Nanjing University of Finance & Economics Lally School of Management Rensselaer Polytechnic Institute 

出 版 物：《China Journal of Accounting Research》 (中国会计学刊（英文版）)

年 卷 期：2018年第11卷第1期

页      面：1-19页

学科分类：12[管理学] 0202[经济学-应用经济学] 1202[管理学-工商管理] 0201[经济学-理论经济学] 

主　　题：Corporate culture promotion Firm performance China 

摘      要：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.