Work

Corporate culture and company performance in emerging markets: evidence from China

Year: 2026

Type: article

Abstract: This paper constructs a novel corporate culture index for Chinese enterprises based on the text material of management discussion and analysis (MD&A). We examine the role of Chinese corporate culture in affecting company performance in China. Empirical results reveal a pronounced positive correlation between corporate culture values and company performance, indicating that a strong corporate culture significantly enhances company performance. In addition, further discussions show that culture values can have a larger effect on company performance when a company promotes innovation, and owns more intangible assets. This paper attempts to provide new insights on corporate culture and company performance, which can be critical for understanding the dynamics of company behavior and strategic decision-making in emerging markets.

Source: Journal of Economic Behavior & Organization

DOI: 10.1016/j.jebo.2026.107473

Authors: Xinjie Lu, Feng Ma, Samuel A. Vigne

Institutions: Southwest Jiaotong University, Libera Università Internazionale degli Studi Sociali Guido Carli

Language: English

Topic: Management and Organizational Practices

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $3,180

Funders: National Natural Science Foundation of China, China Postdoctoral Science Foundation