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On the origin of shared beliefs (and corporate culture)

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  • Eric Van den Steen

Abstract

This article shows how corporate culture, in the sense of shared beliefs and values, originates (often unintentionally) through screening, self-sorting, and manager-directed joint learning. It shows that such culture will be stronger among more important employees and in older and more successful firms where employees make important decisions and the manager has strong beliefs. It further shows how a manager's beliefs influence culture, how culture persists despite turnover, and why the suggested link between culture and performance may be a case of inverse causality. It finally shows that, from an outsider's perspective, organizations may tend to overinvest in corporate culture. Copyright (c) 2010, RAND..

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Bibliographic Info

Article provided by RAND Corporation in its journal The RAND Journal of Economics.

Volume (Year): 41 (2010)
Issue (Month): 4 ()
Pages: 617-648

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Handle: RePEc:bla:randje:v:41:y:2010:i:4:p:617-648

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  1. Roberto A. Weber & Colin F. Camerer, 2003. "Cultural Conflict and Merger Failure: An Experimental Approach," Management Science, INFORMS, INFORMS, vol. 49(4), pages 400-415, April.
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Cited by:
  1. Roland Bénabou, 2013. "Groupthink: Collective Delusions in Organizations and Markets," Review of Economic Studies, Oxford University Press, vol. 80(2), pages 429-462.
  2. HIROTA Shinichi & KUBO Katsuyuki & MIYAJIMA Hideaki, 2007. "Does Corporate Culture Matter? An Empirical Study on Japanese Firms," Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) 07030, Research Institute of Economy, Trade and Industry (RIETI).
  3. Kosfeld, Michael & von Siemens, Ferdinand, 2007. "Competition, Cooperation, and Corporate Culture," IZA Discussion Papers 2927, Institute for the Study of Labor (IZA).
  4. Cronqvist, Henrik & Low, Angie & Nilsson, Mattias, 2007. "Does Corporate Culture Matter for Firm Policies?," SIFR Research Report Series, Institute for Financial Research 48, Institute for Financial Research.
  5. Marie-Louise Vierø, 2006. "Contracting in Vague Environments," Working Papers, Queen's University, Department of Economics 1106, Queen's University, Department of Economics.
  6. Echeverría, Manuel, 2012. "Value Oriented Organizations with Value Neutral Hierarchies," Working Papers, Lund University, Department of Economics 2012:25, Lund University, Department of Economics.
  7. Cronqvist, Henrik & Low, Angie & Nilsson, Mattias, 2007. "Does Corporate Culture Matter for Firm Policies?," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics 2007-1, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  8. Di Maggio, Marco, 2009. "Sweet Talk: A Theory of Persuasion," MPRA Paper 18697, University Library of Munich, Germany.
  9. Christian Cordes & Peter Richerson & Georg Schwesinger, 2014. "A corporation’s culture as an impetus for spinoffs and a driving force of industry evolution," Journal of Evolutionary Economics, Springer, Springer, vol. 24(3), pages 689-712, July.
  10. Hiller, Victor & Verdier, Thierry, 2014. "Corporate culture and identity investment in an industry equilibrium," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 103(C), pages 93-112.

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