Journal of Guizhou University of Finance and Economics ›› 2025 ›› Issue (01): 100-110.

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Corporate culture and high-quality development: quality and innovation effects

YANG Qizhong, MA Beili   

  1. School of Accounting, Nanjing University of Finance and Economics, nanjing, jiangsu 210023, China;School of Management, Jiangsu University of Technology, Changzhou, jiangsu 213001, China
  • Received:2023-09-23 Published:2025-02-25

Abstract: Tracing the cultural genes behind the high-quality development of enterprises and empowering high-quality economic development. This article is based on the data of A-share listed companies in Shanghai and Shenzhen from 2009 to 2021, using text analysis method to measure corporate culture and test the impact and mechanism of corporate culture on high-quality development of enterprises. Empirical research has found that the stronger the corporate culture, the more it can promote high-quality development of the enterprise. This conclusion is validated from four sub dimensions of corporate culture: innovation culture, trust culture, team culture, and quality culture. After endogeneity testing, it remains robust. Heterogeneity analysis was conducted from the aspects of ownership nature, analyst attention, and institutional shareholding ratio. It was found that in state-owned enterprises, enterprises with lower analyst attention and institutional shareholding ratio, culture has a more significant promoting effect on the high-quality development of enterprises. Further analysis of the mechanism reveals that corporate culture can affect a company's research and development expenditures, degree of information asymmetry, and organizational resilience, thereby promoting high-quality development. It is recommended to vigorously cultivate the traditional quality culture and innovation culture of Chinese local enterprises in the new era, and attach importance to the unique role of cultural soft power in the high-quality development of enterprises.

Key words: culture, high quality, development impact, mechanism

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