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The Relationship between Corporate Culture and Value at Different Life Cycle Stages
Despite the general agreement that a firm embodies its own culture, there is still a lack of empirical research on how a firm's culture affects its value. Another caveat on previous studies is that they implicitly assume that a firm's culture does not vary over time. In this paper, we examine the following two questions to address this lack: (1) Does a firm's culture affect the firm's value? (2) If a firm's culture varies at different life cycle stages, do these changes have an impact on firmdoi:10.3390/su13042334 fatcat:yte6efrlprg7fd63aorx264c7e