scholarly journals The Relationship between Corporate Culture and Value at Different Life Cycle Stages

2021 ◽  
Vol 13 (4) ◽  
pp. 2334
Author(s):  
Sung Ook Park ◽  
Seung Uk Choi ◽  
Seong Tae Kim ◽  
Hyung Jong Na
Keyword(s):  
Life Cycle ◽  
Corporate Culture ◽  
Firm Value ◽  
Environmental Changes ◽  
Competing Values Framework ◽  
Competing Values ◽  
Operational Environment ◽  
External Focus ◽  
Life Cycle Stages ◽  
Positive Effect

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 firm value? By using a competing values framework, we identify four types of corporate culture—adhocracy, market, clan, and hierarchy—and use life cycle stages to proxy for changes in a firm’s environment. The results reveal that adhocracy culture has a positive effect on a firm’s value. In contrast, we find a negative association between hierarchy culture and a firm’s value. This can be interpreted as the features of adhocracy culture, which gives autonomy to its members (flexible and discretion) and keeps challenging a firm to grow (external focus and differentiation), positively impacting firm value more than the other cultures. Furthermore, at a growth stage in which a firm faces dynamic environmental changes, both adhocracy and clan cultures have an incrementally positive effect on firm value. This implies that firms in mature or decline stages lose dynamic changes in their operational environment, therefore, the effect of culture on firm value is restricted in those stages.

scholarly journals Pengaruh Risiko Bisnis, Life Cycle Dan Diversifikasi Terhadap Struktur Modal Serta Hubungannya Dengan Nilai Perusahaan Manufaktur Di Indonesia

2016 ◽  
Vol 9 (1) ◽  
Author(s):  
Septi Diana Sari
Keyword(s):  
Life Cycle ◽  
Capital Structure ◽  
Firm Value ◽  
Order Theory ◽  
Diversification Strategy ◽  
Single Segment ◽  
Unrelated Diversification ◽  
Related Diversification ◽  
Positive Effect ◽  
The Capital Structure

This study aims to examine the factors that affect the capital structure. The task of the financial manager is to determine the amount of capital structure to enhance shareholder value. Since the capital structure associated with firm value , this study also aimed to examine the effect of capital structure on firm value by considering the company's diversification strategy and corporate life cycle stages . By using the data obtained from the OSIRIS period 2009-2012, researchers used multiple regression test and path analysis to test the hypothesis. From the test results stated that only companies which are in the start-up phase which has a significant positive effect on the capital structure , as well as the diversification strategy has an influence on the capital structure of the company's capital structure with a sequence of related diversification > unrelated diversification > single segment. But when regressed diversification strategy with corporate values, only a single segment strategy and related diversification which significantly affect the value of the company, as well as the positive effect of capital structure on firm value. Most of the results of this study can be explained by the signaling effect and the pecking order theory. 

scholarly journals Developmental regulation of edited CYb and COIII mitochondrial mRNAs is achieved by distinct mechanisms in Trypanosoma brucei

2020 ◽  
Vol 48 (15) ◽  
pp. 8704-8723
Author(s):  
Joseph T Smith Jr. ◽  
Eva Doleželová ◽  
Brianna Tylec ◽  
Jonathan E Bard ◽  
Runpu Chen ◽  
...  
Keyword(s):  
Life Cycle ◽  
Trypanosoma Brucei ◽  
High Throughput Sequencing ◽  
Environmental Changes ◽  
Developmental Regulation ◽  
Complex Life Cycle ◽  
Mrna Levels ◽  
Developmentally Regulated ◽  
Life Cycle Stages

Abstract Trypanosoma brucei is a parasitic protozoan that undergoes a complex life cycle involving insect and mammalian hosts that present dramatically different nutritional environments. Mitochondrial metabolism and gene expression are highly regulated to accommodate these environmental changes, including regulation of mRNAs that require extensive uridine insertion/deletion (U-indel) editing for their maturation. Here, we use high throughput sequencing and a method for promoting life cycle changes in vitro to assess the mechanisms and timing of developmentally regulated edited mRNA expression. We show that edited CYb mRNA is downregulated in mammalian bloodstream forms (BSF) at the level of editing initiation and/or edited mRNA stability. In contrast, edited COIII mRNAs are depleted in BSF by inhibition of editing progression. We identify cell line-specific differences in the mechanisms abrogating COIII mRNA editing, including the possible utilization of terminator gRNAs that preclude the 3′ to 5′ progression of editing. By examining the developmental timing of altered mitochondrial mRNA levels, we also reveal transcript-specific developmental checkpoints in epimastigote (EMF), metacyclic (MCF), and BSF. These studies represent the first analysis of the mechanisms governing edited mRNA levels during T. brucei development and the first to interrogate U-indel editing in EMF and MCF life cycle stages.

scholarly journals ENGARUH BIAYA KEAGENAN, TAHAP DAUR HIDUP PERUSAHAAN, KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN UTANG SEBAGAI VARIABEL PEMODERASI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

2018 ◽  
Vol 3 (2) ◽  
pp. 172
Author(s):  
Muhammad Yasfi ◽  
Kurniawan Ali Fachrudin
Keyword(s):  
Life Cycle ◽  
Firm Value ◽  
Stock Exchange ◽  
Agency Cost ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Best Interest ◽  
Firm Life Cycle ◽  
Life Cycle Stages ◽  
Debt Policy

One of the company's main objective was to enhance firm value through increased prosperity of the owners or shareholders. The separation of ownership from management in corporation creates agency problem. Managers who run companies and usually do not have stock ownership may not act in the shareholder’s best interest because they maximize their own wealth.The objective of this research was to examine whether there was an effect of agency cost (dispersion of ownership and managerial ownership), firm life cycle stages, and dividend policy on firm value with debt policy as moderating variable. The population of the study is the manufacturing companies that registered in Indonesian Stock Exchange in the period of 2002–2012. Samples of 88 observations are selected using purposive sampling method. The analysis method of this research was simple regression and Moderated Regression Analysis (MRA).The result showed that dispersion of ownership and firm life cycle stages can influence firm value. The result also showed that debt policy can moderating dispersion of ownership influence firm value.

Assessing Corporate Culture of an Enterprise-based on Competing Values Framework Design

2018 ◽  
Vol 9 (4) ◽  
pp. 1176
Author(s):  
Iryna S. BALANDINA ◽  
Larysa V. OBOLENTSEVA ◽  
Svitlana A. ALEKSANDROVA ◽  
Yana O. POLYAKOVA ◽  
Sergii B. DULFAN
Keyword(s):  
Corporate Culture ◽  
Competing Values Framework ◽  
State Enterprise ◽  
Competing Values ◽  
Staff Members ◽  
Market Participants ◽  
Chemical Reagents ◽  
Framework Design ◽  
New Information ◽  
Labor Resources

The corporate culture of the enterprise in the present conditions becomes an effective competitive advantage, the uniqueness of which is to exclude the possibility of copying it by other market participants through the reproduction of the process of social interaction between the employees of the company on the basis of the formed common ideas and understanding. Therefore, the main purpose of the work is to assess the corporate culture of the enterprise based on competing values framework design. The state enterprise ‘Plant for chemical reagents’ (SC ‘Zavod khimichnykh reaktyviv’) was chosen as the research object. An important step in assessing the corporate culture, for the period under study, is the analysis of the internal labor resources of the enterprise. It was established that the research object reduced the number of staff members. The work revealed vectors of corporate culture. It was also found that the company is recommended to introduce a new information system, taking into account the need for market monitoring; to improve the system of motivation of employees of the enterprise; complete the certification process according to ISO 2010 standards.

Communicating social media policies: evaluation of current practices

2014 ◽  
Vol 18 (2) ◽  
pp. 158-175 ◽  
Author(s):  
Morana Fuduric ◽  
Andreina Mandelli
Keyword(s):  
Social Media ◽  
Corporate Culture ◽  
Direct Action ◽  
Competing Values Framework ◽  
Competing Values ◽  
Content Type ◽  
New Guidelines ◽  
Corporate Social ◽  
Practical Implications

Purpose – The main purpose of this paper is to explore the main characteristics of corporate social media guidelines (SMG) and determine whether companies communicate these guidelines effectively to employees. Design/methodology/approach – An analysis of corporate SMG is conducted using the Competing Values Framework (CVF) formerly used to assess business and ethical codes. The sample is comprised of 20 multinational companies that publish their SMG online. Findings – The results indicate the majority of the guidelines received average scores across the CVF framework, which implies the guidelines barely manage to stimulate change, direct action, provide facts or emphasize the importance of building trust. Research limitations/implications – A possible limitation of the research could be the issue of interpretability of the features of the framework. Hence, the quality of the research depends on the quality of the training raters receive prior to the guideline rating process. Additionally, the researchers were limited with the guideline availability and could analyze only the guidelines available online. This analysis can be broadened by identifying factors that may influence the characteristics of the guidelines (e.g. corporate culture or industry). Practical implications – Managers can use this framework to analyze their companies’ guidelines to reveal the gaps, point to opportunities for improvement or take the findings into account when developing new guidelines. Originality/value – The first paper that analyzes corporate SMG and their respective characteristics.

Corporate Culture and Financial Reporting Quality

2021 ◽  
Author(s):  
Avishek Bhandari ◽  
Babak Mammadov ◽  
Maya Thevenot ◽  
Hamid Vakilzadeh
Keyword(s):  
Organizational Behavior ◽  
Financial Reporting ◽  
Corporate Culture ◽  
Internal Control ◽  
Cultural Revolution ◽  
Reporting Quality ◽  
Competing Values Framework ◽  
Financial Reporting Quality ◽  
Competing Values ◽  
Tone At The Top

With the increased focus on corporate culture as an important determinant of organizational behavior and outcomes, we study how corporate culture affects firm financial reporting quality. Relying on the Competing Values Framework (CVF) to define four types of corporate culture, we find that collaboration (competition)-oriented culture firms have lower (higher) financial reporting quality and these effects are incremental to corporate governance and tone at the top. Further analyses support our main findings and suggest that collaboration culture is associated with the likelihood of reporting a material internal control weakness, while competition culture is related to a lower likelihood of an internal control weakness and a restatement. We contribute to the "cultural revolution" led by economics and finance schools of thought and provide empirical evidence that corporate culture shapes financial reporting quality.

Influence of life cycle stages of high-tech engineering enterprises on personnel management strategies

2019 ◽  
Vol 39 (2) ◽  
pp. 11-17
Author(s):  
M. Y. Veselovsky ◽  
E. M. Abrashkina
Keyword(s):  
Life Cycle ◽  
Personnel Management ◽  
Corporate Culture ◽  
Management Strategies ◽  
Production Reserve ◽  
High Tech ◽  
Stable Operation ◽  
Social Partnership ◽  
Life Cycle Stages ◽  
Management Approaches

In scientific research provides a rationale for the influence of the life cycle stages of high-tech engineering enterprises on personnel management strategies. It was proved that most of these enterprises are at the stages of stable operation, growth or crisis conditions. Their main intellectual and production reserve was formed in the years of the planned economy. Based on the analysis of management approaches at these stages of the life cycle of organizations, tools have been proposed for improving the personnel management system. The main ones should be the strengthening of social partnership, change in corporate culture and orientation towards optimization of personnel and expenses for them.

Corporate social responsibility, firm value and life cycle: evidence from Southeast Asian countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tifanny Dwijaya Hendratama ◽  
Yu-Chuan Huang
Keyword(s):  
Decision Making ◽  
Corporate Social Responsibility ◽  
Life Cycle ◽  
Southeast Asia ◽  
Firm Value ◽  
Content Type ◽  
Related Research ◽  
Life Cycle Stages ◽  
Corporate Social ◽  
The Relationship

PurposeThis study extends related research on corporate social responsibility (CSR) into the less-researched realm of Southeast Asia setting by investigating the role of life cycle stages on the relationship between CSR and firm value.Design/methodology/approachThis study uses a sample of 1,247 firm-year observations of firms listed in Southeast Asia from 2012 to 2018. Descriptive, multiple regression and sensitivity analyses are presented in the study.FindingsThe results provide evidence that although CSR and firm value, in general, have a positive relationship, the relationship is contingent on the stages of firm's life cycle. The effect of each CSR dimension on firm value differs across life cycle stages. The social dimension of CSR predicts higher firm value at the introduction and mature stages. The governance dimension affects firm value at the growth and shake-out/decline stages. Moreover, the environmental dimension affects firm value only at the later stage of the life cycle.Research limitations/implicationsThis study is limited to five countries in Southeast Asia, namely Indonesia, Malaysia, Philippines, Singapore and Thailand from 2012 to 2018. Future studies may explore other countries and investigate the impact of country classification on the relationship between CSR and firm value.Practical implicationsPolicymakers, managers and other decision-makers may have a better understanding of firm's behavior in different life cycle stages. With such understanding, CSR will be successfully adopted in decision making, formulation and implementation of policies.Originality/valueCSR-related research in Southeast Asia remains an under-studied domain, and little attention has been dedicated to different dimensions of CSR and life cycle in the area of CSR-related preference for decision making.

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