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Does Corporate Governance Improve Small-Firm Performance? The Mediating Role of Organizational Culture

Year: 2025

Type: article

Abstract: This study examines how organizational culture helps corporate governance positively influence the performance of small companies. Using a primary database of small companies in Medellín, we develop a Structural Equation Model. Our results show that, on its own, corporate governance is not sufficient to positively influence the performance of small companies. It needs the mediating effect of organizational culture. These findings help to understand the sometimes inconclusive evidence of the inclusion of governance policies in small organizations. Moreover, our proof paves the way for managers and policymakers to develop specific policies that increase the performance of this type of organization.

Source: Studies in Business and Economics

DOI: 10.2478/sbe-2025-0048

Authors: Alejandro Diaz Peláez, José Antonio Clemente-Almendros, Carlos Mario Londoño-Toro, Camilo Alarcon-Nieto, Raquel Patricia Salgado Herrera

Institutions: Universidad Internacional de La Rioja, Fundación Universitaria María Cano, Universidad Simón Bolívar

Language: English

Topic: Corporate Governance and Financial Management

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: diamond

OpenAlex ID: W7124708264

FWCI:

Cites: 51

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