IDEA #94
Strong culture, reliable performance
The strength of a firm’s corporate culture can help it to deliver reliable financial and operational performance in times of stability, but can hinder it under volatile conditions.
What you need to know
What is the impact of having a ‘strong culture’ (commonly defined as ‘a set of norms and values that are widely shared and strongly held throughout the organisation’) in a firm? In order to find out, Jesper Sørensen analysed the performance of ‘large, publicly traded firms in 18 markets’, across a range of metrics from return on investment, to operating cash flow, to debt-to-asset ratios. Sørensen ...
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