A Corporate Culture Channel: How Increased Shareholder Governance Reduces Firm Value

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Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism (2016, unknown): “Activists have also been found to affect a wide range of other outcomes including innovation (Brav, Jiang, Ma, and Tian, 2014), corporate culture (Popadak, 2013), director labor markets (Fos and Tsoutsoura, 2014), labor productivity (Brav, Jiang, and Kim, 2015), mergers (Boyson, Gantchev, and Shivda”
Measuring Corporate Culture Using Machine Learning (2020, background): “Graham, Grennan, Harvey, and Rajgopal 2019). Guiso et al. (2015) further note that for a particular value to be enforced, corporate leaders must themselves live by the value and share it throughout their”
Crowdsourced employer reviews and stock returns (2019, background): “Other work on the causal effects of company culture include Grennan (2014), Huang et al. (2015), Ji et al. (2017) and Edmans et al. (2017) .”
Corporate Sustainability and Stock Returns: Evidence from Employee Satisfaction (2020, unknown): “Grennan (2019) show that corporate culture is an important channel through which governance affects firm value.”