The Effect of Creative Corporate Culture and Intangibility on the Performance of Foreign Firms Traded on the NYSE Outros Idiomas

PURPOSE – Following the tenets of resource-based view, the present study aims to investigate the effect of creative corporate culture according to the competing values framework model at the level of corporate intangibility and its respective repercussions on performance. DESIGN/METHODOLOGY/APPROACH – The sample included 117 non-USA foreign firms traded on the New York Stock Exchange (NYSE), which issued annual financial reports between 2009 and 2014 using the 20-F form. To meet the study objectives, in addition to the descriptive and comparative analyses, the authors performed regression analyses with panel data, estimating generalized least-squares, two-stage least-squares and ordinary least-squares. FINDINGS – Creative culture had a negative effect on the level of intangibility and corporate performance, while the level of intangibility did not appear to influence corporate performance. When combined, creative culture and intangibility had a potentially negative effect on corporate results. In conclusion, creative corporate culture had a negative effect on performance, even in firms with higher levels of intangibility, characterized by elements like experimentation and innovation. ORIGINALITY/VALUE – Although the study hypotheses were eventually rejected, the analyses are relevant to both the academic setting and the market because of the organizational and institutional aspects evaluated, especially in relation to intangibility and creative culture and in view of the unique cross-cultural approach adopted. Within the corporate setting, the study provides a spectrum of stakeholders with tools to identify the profile of foreign firms traded on the NYSE.
Citação ABNT:
LUCA, M. M. M.; PARENTE, P. H. N.; SILVA, E. M. S.; SOUSA, R. R. The Effect of Creative Corporate Culture and Intangibility on the Performance of Foreign Firms Traded on the NYSE. Revista de Administração e Inovação, v. 15, n. 4, p. 356-372, 2018.
Citação APA:
Luca, M. M. M., Parente, P. H. N., Silva, E. M. S., & Sousa, R. R. (2018). The Effect of Creative Corporate Culture and Intangibility on the Performance of Foreign Firms Traded on the NYSE. Revista de Administração e Inovação, 15(4), 356-372.
Link Permanente:
Tipo de documento:
Acar, A. Z.; Acar, P. (2014). Organizational culture types and their effects on organizational performance in Turkish hospitals. Emerging Markets Journal, v. 3, n. 3, pp. 17-31.

Azeez, A. A. (2015). Corporate governance and firm performance: evidence from Sri Lanka. Journal of Finance and Bank Management, v. 3, n. 1, pp. 180-189.

Barney, J. (1986). Organizational culture: can it be a source of sustained competitive advantage? Academic Management Review, v. 11, n. 3, pp. 656-665.

Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, v. 17, n. 1, pp. 99-120.

Baron, R. M.; Kenny, D. A. (1986). The moderator-mediator variable distinction in social psychological research: conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, v. 51, n. 6, pp. 1173-1182.

Basso, L. F. C.; Oliveira, J. A. S.; Kimura, H.; Braune, E. S. (2015). The impact of intangibles on value creation: comparative analysis of the GU and Lev methodology for the United States software and hardware sector. Investigaciones Europeas de Direccion y Economía de la Empresa, v. 21, n. 2, pp. 73-83.

Bettis, R. A. (2012). The search for asterisks: compromised statistical tests and flawed theories. Strategic Management Journal, v. 33, n. 1, pp. 108-113.

Cameron, K. S.; Quinn, R. E. (1999), Diagnosing and Changing Organizational Culture: based on the Competing Values Framework. John Wiley, New Jerney.

Cameron, K. S.; Quinn, R. E. (2006), Diagnosing and Changing Organizational Culture: based on the Competing Values Framework. 3 ed. Jossey-Bass, San Francisco.

Cameron, K. S.; Quinn, R. E.; Degraff, J.; Thakor, A. V. (2006), Competing Values Leadership: creating Value in Organisations. Edward Elgar, Cheltenham.

Carretta, A.; Farina, V.; Marteli, D.; Fiodelisi, F.; Schwizer, P. (2011). The impact of corporate governance press news on stock market returns. European Financial Management, v. 17, n. 1, pp. 100-119.

Carvalho, F. M.; Kayo, E. K.; Martin, D. M. L. (2010). Tangibilidade e intangibilidade na determinação do desempenho persistente de firmas brasileiras. Revista de Administração Contemporânea, v. 14, n. 5, pp. 871-889.

Decker, F.; Ensslin, S. R.; Reina, D. R. M.; Reina, D. (2013). A relação entre os ativos intangíveis e a rentabilidade das empresas listadas no índice Bovespa. Reuna, v. 18, n. 4, pp. 75-92.

Denison, D. R.; Spreitzer, G. M. (1991). Organizational culture and organizational development: a competing values approach. Research in Organizational Change and Development, v. 5, pp. 1-21.

Fekete, H.; Böcskei, E. (2011). Cultural waves in company performance. Research Journal of Economics, Business and ICT, v. 3, pp. 38-42.

Fiordelisi, F.; Ricci, O. (2014). Corporate culture and CEO turnover. Journal of Corporate Finance, v. 28, pp. 66-82.

Flamholtz, E. G.; Randle, Y. (2012). Corporate culture, business models, competitive advantage, strategic assets and the bottom line: theoretical and measurement issues. Journal of Human Resource Costing and Accounting, v. 16, n. 2, pp. 76-94.

Galbreath, J. (2005). Which resources matter the most to firm success?An exploratory study of resource-based theory? Technovation, v. 25, n. 9, pp. 979-987.

Gray, S. J. (1988). Towards a theory of cultural influence on the development of accounting systems internationally. Abacus, v. 24, n. 1, pp. 1-15.

Han, H. S. (2012). The relationship among corporate culture, strategic orientation, and financial performance. Cornell Hospitality Quarterly, v. 53, n. 3, pp. 207-219.

Hartnell, C. A.; Ou, A. Y.; Kinicki, A. (2011). Organizational culture and organizational effectiveness: a meta-analytic investigation of the competing values framework’s theoretical suppositions. Journal of Applied Psychology, v. 96, n. 4, pp. 677-694.

Helfat, C. E.; Peteraf, M. A. (2003). Understanding dynamic capabilities: progress along a developmental path. Strategic Organization, v. 7, n. 1, pp. 91-102.

Jordão, R. V. D.; Almeida, V. R. D. (2017). Performance measurement intellectual capital & financial sustaninability. Journal of Intellectual Capital, v. 18, n. 3, pp. 643-666.

Kim, S.; Lee, J.; Yu, K. (2004). Corporate culture and organizational performance. Journal of Managerial Psychology, v. 19, n. 4, pp. 340-359.

Levinson, S. (2003). Language and mind: let’s get the issues straight. In: D., Gentner; S., Goldin Meadow. Language in Mind. MIT Press, Cambridge. pp. 25-45.

Meyer, K. E.; van, W.; Beugelsdijk, S. (2017). What’s in a p?Reassessing best practices for conducting and reporting hypothesis-testing research. Journal of International Business Studies, v. 48, n. 5, pp. 535-551.

Miranda, K. F.; Vasconcelos, A. C.; Silva, J. C. L.; Santos, J. G. C.; Maia, A. B. G. R. (2013). Ativos intangíveis, grau de inovação e o desempenho das empresas brasileiras de grupos setoriais inovativos. Revista Gestão Organizacional, v. 6, n. 1, pp. 4-17.

Naor, M.; Jones, J. S.; Bernardes, E. S.; Goldstein, S. M.; Schoeder, R. (2014). The culture-effectiveness link in a manufacturing context: a resource-based perspective. Journal of World Business, v. 49, n. 3, pp. 321-331.

Naranjo-Valencia, J. C.; Jiménez-Jiménez, D.; Sanz-Valle, R. (2015). Studying the links between organizational culture, innovation, and performance in Spanish companies. Revista Latinoamericana de Psicologia, pp. 1-12.

Perez, M. M.; Famá, R. (2006). Ativos intangíveis e desempenho empresarial. Revista Contabilidade e Finanças, v. 17, n. 40, pp. 7-24.

Quinn, R. E.; Rohrbaugh, J. R. (1983). A spatial model of effectiveness criteria: towards a competing values approach to organization analysis. Management Science, v. 29, n. 3, pp. 363-377.

Quinn, R. E.; Spreitzer, G. M. (1991). The psychometrics of the competing values culture instrument and an analysis of the impact of organizational culture on quality of life. In R.W.; Woodman; W.A., Pasmore. (Eds). Research in Organizational Change and Development. JAI Press, Greenwich. pp. 115-142.

Santos, J. G. C.; Silva, L. S.; Gallon, A. V.; De Luca, M. M. M. (2012). Intangibilidade e inovação em empresas no brasil. Revista de Administração e Inovação, v. 9, n. 2, pp. 197-221.

Stone, P. J.; Dunphy, D. C.; Smith, M. S.; Ogilvie, D. M. (1966). The general inquirer: a computer approach to content analysis. MIT Studies in Comparative Politics. MIT Press, Cambridge.

Tseng, S. (2010). The correlation between organizational culture and knowledge conversion on corporate performance. Journal of Knowledge Management, v. 14, n. 2, pp. 269-284.

Wu, S. J.; Zhang, D.; Schroeder, R. G. (2011). Customization of quality practices: the impact of quality culture. International Journal of Quality and Reliability Management, v. 28, n. 3, pp. 263-279.

Yang, J. S.; Hung, H. V. (2015). Emotions as constraining and facilitating factors for creativity: Companionate love and anger. Creativity and Innovation Management, v. 24, n. 2, pp. 217-230.

Zheng, W.; Yang, B. Y.; Mclean, G. N. (2010). Linking organizational culture, structure, strategy, and organizational effectiveness: mediating role of knowledge management. Journal of Business Research, v. 63, n. 7, pp. 763-771.