Investigating the effect of organizational culture dimensions on financial performance: In case study of pharmaceutical companies listed on the tehran stock exchange
Keywords:
Culture, financial performance, organizational culture, performanceAbstract
Organizational culture is the force that have people to act and has a strong and penetrating effect on all components of the organization, hence the recognition of organizational culture to create an innovative organization and benefit from the creativity of the staff is important. The purpose of this research is to determine the effect of organizational culture on financial performance. The method used in the current study was surveyed, and we used Cameron & Quinn questionnaire (2006), to measure the organizational culture variable as an independent variable, and from the functional data of the accepted pharmaceutical companies in Tehran Stock Exchange in 2014, to measure the financial performance variable as a dependent variable. The software used in this research included Excel and SPSS, so that in Excel, necessary calculations, and in SPSS the data analysis were done. Also, Regression has been used to investigate the direct effect of the research variables. Based on the standard coefficient and the significance level obtained, there is not any significant relationship between variables. The results of statistical analysis indicate that there is no significant relationship between studied cultures and financial performance.
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References
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Davidson, G. M. 2003. The relationship between organisational culture and financial performance in a South African Investment Bank. Citeseer.
Denison, D. R. & Mishra, A. K. 1995. Toward a theory of organizational culture and effectiveness. Organization science, 6, 204-223.
Haniffa, R. M. & Cooke, T. E. 2002. Culture, corporate governance and disclosure in Malaysian corporations. Abacus, 38, 317-349.
Hauck, M. & Steinkamp, S. W. 1964. Survey reliability and interviewer competence 4. Studies in consumer savings; no. 4.
Huallachain, B. O. 1994. Foreign banking in the American urban system of financial organization. Economic Geography, 70, 206-228.
Kessapidou, S. & Varsakelis, N. C. 2002. The impact of national culture on international business performance: the case of foreign firms in Greece. European Business Review.
Koene, B. a. S. 1996. Organizational culture, leadership and performance in context: Trust and rationality in organizations.
Kwok, C. C. & Tadesse, S. 2006. National culture and financial systems. Journal of International business studies, 37, 227-247.
Landes, D., Harrison, L. E. & Huntington, S. P. 2000. Culture matters: How values shape human progress. New York: Basic Books.
Lee, S. K. J. & Yu, K. 2004. Corporate culture and organizational performance. Journal of managerial psychology.
Mulherin, J. H., Netter, J. M. & Overdahl, J. A. 1991. Prices are property: the organization of financial exchanges from a transaction cost perspective. The Journal of Law and Economics, 34, 591-644.
Naser Mirsepasi, M. Z. 2002. The relationship between organizational culture and organizational performance (research in insurance companies). آینده پژوهی مدیریت, 14, 73-92.
Toporowski, J. 2009. The economics and culture of financial inflation. Competition & Change, 13, 145-156.
Tsakumis, G. T. 2007. The influence of culture on accountants’ application of financial reporting rules. Abacus, 43, 27-48.
Yafeh, Y. & Yosha, O. 2001. Industrial organization of financial systems and strategic use of relationship banking. Review of finance, 5, 63-78.
Zahra, S. A. 1991. Predictors and financial outcomes of corporate entrepreneurship: An exploratory study. Journal of business venturing, 6, 259-285.
Kotter, J.P. and Heskett, J.L. (1992), Corporate Culture and Performance, Macmillan, New York, NY.
Joiner, T. A. (2001). The influence of national culture and organizational culture alignment on job stress and performance: evidence from Greece. Journal of Managerial psychology.
Maleki, A., Ansari, A., & Safari, A. (2013). A study of market orientation and its effect on small to medium sized enterprises of informatics industry located in Tehran. Journal of Novel Applied Sciences, 2(54), 1150-1159.
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Adiputra, I. M. P., & Sujana, E. (2021). Management Control Systems, Organizational Culture and Village Credit Institution Financial Performance. The Indonesian Journal of Accounting Research, 24(1).
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Bingöl, D., Şener, İ., & Çevik, E. (2013). The effect of organizational culture on organizational image and identity: Evidence from a pharmaceutical company. Procedia-Social and Behavioral Sciences, 99, 222-229.
Shahzad, F., Xiu, G., & Shahbaz, M. (2017). Organizational culture and innovation performance in Pakistan's software industry. Technology in Society, 51, 66-73.
Maamari, B. E., & Saheb, A. (2018). How organizational culture and leadership style affect employees’ performance of genders. International Journal of Organizational Analysis.
Umrani, W. A., Kura, K. M., & Ahmed, U. (2018). Corporate entrepreneurship and business performance: The moderating role of organizational culture in selected banks in Pakistan. PSU Research Review.
Marampa, A. M., Khananda, R. W. V., & Anggraeni, A. I. (2021). The Effect of Organizational Culture on Organizational Performance. ICORE, 5(1).
Liu, C. M., & Wang, T. Y. (2020). A study of the correlation between service innovation, organizational culture, and organizational performance in the biochemistry industry. EurAsian Journal of BioSciences, 14(2).
Suryasa, I. W., Rodríguez-Gámez, M., & Koldoris, T. (2021). The COVID-19 pandemic. International Journal of Health Sciences, 5(2), vi-ix. https://doi.org/10.53730/ijhs.v5n2.2937
Barney, J. B. 1986. Organizational culture: can it be a source of sustained competitive advantage? Academy of management review, 11, 656-665.
Davidson, G. M. 2003. The relationship between organisational culture and financial performance in a South African Investment Bank. Citeseer.
Denison, D. R. & Mishra, A. K. 1995. Toward a theory of organizational culture and effectiveness. Organization science, 6, 204-223.
Haniffa, R. M. & Cooke, T. E. 2002. Culture, corporate governance and disclosure in Malaysian corporations. Abacus, 38, 317-349.
Hauck, M. & Steinkamp, S. W. 1964. Survey reliability and interviewer competence 4. Studies in consumer savings; no. 4.
Huallachain, B. O. 1994. Foreign banking in the American urban system of financial organization. Economic Geography, 70, 206-228.
Kessapidou, S. & Varsakelis, N. C. 2002. The impact of national culture on international business performance: the case of foreign firms in Greece. European Business Review.
Koene, B. a. S. 1996. Organizational culture, leadership and performance in context: Trust and rationality in organizations.
Kwok, C. C. & Tadesse, S. 2006. National culture and financial systems. Journal of International business studies, 37, 227-247.
Landes, D., Harrison, L. E. & Huntington, S. P. 2000. Culture matters: How values shape human progress. New York: Basic Books.
Lee, S. K. J. & Yu, K. 2004. Corporate culture and organizational performance. Journal of managerial psychology.
Mulherin, J. H., Netter, J. M. & Overdahl, J. A. 1991. Prices are property: the organization of financial exchanges from a transaction cost perspective. The Journal of Law and Economics, 34, 591-644.
Naser Mirsepasi, M. Z. 2002. The relationship between organizational culture and organizational performance (research in insurance companies). آینده پژوهی مدیریت, 14, 73-92.
Toporowski, J. 2009. The economics and culture of financial inflation. Competition & Change, 13, 145-156.
Tsakumis, G. T. 2007. The influence of culture on accountants’ application of financial reporting rules. Abacus, 43, 27-48.
Yafeh, Y. & Yosha, O. 2001. Industrial organization of financial systems and strategic use of relationship banking. Review of finance, 5, 63-78.
Zahra, S. A. 1991. Predictors and financial outcomes of corporate entrepreneurship: An exploratory study. Journal of business venturing, 6, 259-285.
Kotter, J.P. and Heskett, J.L. (1992), Corporate Culture and Performance, Macmillan, New York, NY.
Joiner, T. A. (2001). The influence of national culture and organizational culture alignment on job stress and performance: evidence from Greece. Journal of Managerial psychology.
Maleki, A., Ansari, A., & Safari, A. (2013). A study of market orientation and its effect on small to medium sized enterprises of informatics industry located in Tehran. Journal of Novel Applied Sciences, 2(54), 1150-1159.
Davidson, G. M. (2003). The relationship between organisational culture and financial performance in a South African Investment Bank (Doctoral dissertation, University of South Africa).
Yesil, S., & Kaya, A. (2013). The effect of organizational culture on firm financial performance: Evidence from a developing country. Procedia-Social and Behavioral Sciences, 81, 428-437.
Adiputra, I. M. P., & Sujana, E. (2021). Management Control Systems, Organizational Culture and Village Credit Institution Financial Performance. The Indonesian Journal of Accounting Research, 24(1).
Cera, E. (2021). Factors Influencing Organizational Performance: Work Environment, Training-Development, Management and Organizational Culture.
Bingöl, D., Şener, İ., & Çevik, E. (2013). The effect of organizational culture on organizational image and identity: Evidence from a pharmaceutical company. Procedia-Social and Behavioral Sciences, 99, 222-229.
Shahzad, F., Xiu, G., & Shahbaz, M. (2017). Organizational culture and innovation performance in Pakistan's software industry. Technology in Society, 51, 66-73.
Maamari, B. E., & Saheb, A. (2018). How organizational culture and leadership style affect employees’ performance of genders. International Journal of Organizational Analysis.
Umrani, W. A., Kura, K. M., & Ahmed, U. (2018). Corporate entrepreneurship and business performance: The moderating role of organizational culture in selected banks in Pakistan. PSU Research Review.
Marampa, A. M., Khananda, R. W. V., & Anggraeni, A. I. (2021). The Effect of Organizational Culture on Organizational Performance. ICORE, 5(1).
Liu, C. M., & Wang, T. Y. (2020). A study of the correlation between service innovation, organizational culture, and organizational performance in the biochemistry industry. EurAsian Journal of BioSciences, 14(2).
Suryasa, I. W., Rodríguez-Gámez, M., & Koldoris, T. (2021). The COVID-19 pandemic. International Journal of Health Sciences, 5(2), vi-ix. https://doi.org/10.53730/ijhs.v5n2.2937
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