I show corporate culture is an important channel through which governance affects firm value. By quantifying culture and using a regression discontinuity design for identification, I demonstrate stronger governance significantly changes culture: it increases results-orientation but decreases...

Social progress through improved treatment of minority groups (the embrace of anti-racist and anti-sexist norms, for example) may or may not spread to corporate cultures through competition. Sometimes the market fails to adapt on its own and government must pass legislation to secure changes in...

We conduct in-depth interviews of senior executives representing over 20% of the market capitalization of the U.S. equity market to understand: (i) the importance, antecedents and consequences of corporate culture; (ii) the mechanisms that underlie the creation and effectiveness of corporate...

A unifying theme in the literature on organizations such as public bureaucracies and private non-profits is the importance of missions, as opposed to profit, as an organizational goal. Such mission-oriented organizations are frequently staffed by motivated agents who subscribe to the mission....

A number of recent corporate law scandals (including the Wells Fargo fraudulent accounts scandal, the Volkswagen emissions scandal, sexual harassment claims at Fox News and CBS, and various banking scandals currently under investigation in a high profile Australian Royal Commission) epitomize...

We investigate the effects of organizational culture and personal value orientations on performance under individual and team contest incentives. We develop a model of regard for others and in-group favoritism predicting interaction effects between organizational culture and personal values in...

Although organizational culture plays an important role in the life and success of organizations, the fact that it remains an informal and unconscious aspect of organizational life usually hinders, in practice, any attempt to reform or revitalize it despite the best interest and attempts of...

Empirical evidence shows that workers care about the mission of their job in addition to their wage. This suggests that employers can use the job mission to incentivize and screen their workers. I analyze a model in which a principal selects one agent to develop a project and influences the...

In this paper we identify two situations that can lead a firm to hire an executive who supports a corporate culture that differs from the firm's current culture. In the first case, there is similarity between the firm's culture and that of the candidate and in the second case, executives who...

Meteoric growth in all spheres of economic activity propelled by rapid advancement in technology has profoundly impacted humanity mainly due to the globalization wave which was ushered in several countries in the early nineties of the last century. Economic volatilities coupled with geo...