Research Article
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Does Organizational Culture Impact on Firm Performance: Evidence From Turkey

Year 2022, Volume: 51 Issue: 1, 149 - 174, 01.05.2022
https://doi.org/10.26650/ibr.2022.51.861397

Abstract

This paper aims to examine the impact of corporate culture over the financial performance of certain enterprises therewith by covering the data of chemical, petroleum, rubber and plastic products firms (XCHEMST) traded in Borsa Istanbul. In that regard, corporate culture data have been obtained from the surveys of the Denison’s Organizational Culture Model (DOCM) employees and managers of these businesses while the financial data were gleaned from financial statements of the mentioned enterprises between 2012-2016. We posited the ROE as a dependent variable while ROA and DEBT EQUITY have been employed as explanatory financial variables. Accordingly, we have determined SIZE and AGE as firm-specific variables. Utilizing cross-sectional data and multiple linear regression models, we estimated the coefficients of the variables with the aid of an OLS estimator. In so doing, this paper provides sufficient empirical evidence that three out of four cultural traits in the Denison’s Theory have had no impact on the financial performance of Turkey’s chemical firms traded on BIST, whereas the mission trait has had a significant impact. Consequently, our results are largely in line with the findings of other C/P research, suggesting that the mission trait of the DOCM is the core cultural term in ensuring thriving firm corporate performance.

Supporting Institution

Afyon Kocatepe University, The Scientific Researches Projects Commission.

Project Number

15.SOSBIL.02

Thanks

This work is based on the first author’s doctoral dissertation. He would like to deliver his sincere gratitude to committee members for their supports and invaluable contributions. The author also would like to present his special thanks to the Scientific Research Projects Commission of Afyon Kocatepe University for funding the research data.

References

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Year 2022, Volume: 51 Issue: 1, 149 - 174, 01.05.2022
https://doi.org/10.26650/ibr.2022.51.861397

Abstract

Project Number

15.SOSBIL.02

References

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  • Barney, J. B. 1986. Organizational culture: Can it be a source of sustained competitive advantage? Academy of Management Review, 11, 656-665.
  • Bennett, R. H., Fadil, P. A., & Greenwood, R. T. 1994. Cultural alignment in response to strategic organizational change: New considerations for a change framework. Journal of Managerial Issues, 6, 474-490.
  • Bezrukova, K., Thatcher, S., Jehn, K. A., & Spell, C. S. 2012. The effects of alignments: Examining group faultlines, organizational cultures and performance. Journal of Applied Psychology, 97, 77-92.
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  • Boyce, A. S., Nieminen, L. R., Gillespie, M. A., Ryan, A. M., & Denison, D. R. 2015. Which comes first, organizational culture or performance? A longitudinal study of causal priority with automobile dealerships. Journal of Organizational Behavior, 36, 339-359.
  • Buyukozturk, Ş. 2002. Faktör analizi: Temel kavramlar ve ölçek geliştirmede kullanımı. Kuram ve Uygulamada Eğitim Yönetimi / Factor analysis: Basic concepts and its use in scale development. Educational Administration in Theory and Practice 32,470-483.
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  • Cameron, K. S., & Quinn, R. E. 2011. Diagnosing and changing organizational culture: Based on the competing values framework. John Wiley and Sons.
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  • Deal, T. E., & Kennedy, A. A. 1982. Corporate Cultures: The Rites and Rituals of Organizational Life. Reading/Т. Deal, A. Kennedy.–Mass. Boston: Addison-Wesley.
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  • Denison, D. R., & Mishra, A. K. 1995. Toward a theory of organizational culture and effectiveness. Organization Science, 6, 204-223.
  • Denison, D. R. 1990. Corporate Culture and Organizational Effectiveness. New Jersey: John Wiley and Sons.
  • Denison, D. R., & Mishra, A. K. 1995. Toward a theory of organizational culture and effectiveness. Organization Science, 6, 204-223.
  • Denison, D. R., & Neale, W. 1996. Denison organizational culture survey. Ann Arbor, MI: Aviat . Denison, D. R., & Young, J. 1999. Organizational culture and effectiveness: Validating a measurement model. Working Paper: University of Michigan Business School.
  • Denison, D. R., Haaland, R., & Goelzer, S. P. 2003a. Corporate culture and organizational effectiveness: Is there a similar pattern around the World? Advances in Global Leadership, 3, 205–227.
  • Denison, D. R., Haaland, R., & Goelzer, S. P. 2003b. Corporate culture and organizational effectiveness: Is Asia different from the rest of the World? Organizational Dynamics, 33, 98–109.
  • Denison, D., Nieminen, L., & Kotrba, L. 2014. Diagnosing organizational cultures: A conceptual and empirical review of culture effectiveness surveys. European Journal of Work and Organizational Psychology, 23, 145-161.
  • Eren, E. 2001. Örgütsel Davranış ve Yönetim Psikolojisi (7. baskı), Organizational Behaviour and Management Psychology (7th Edition), Beta Publishing, İstanbul: Beta Yayınevi.
  • Eren, E., Alpkan, L., & Ergun, E. 2003. Kültürel boyutlar olarak işletmelerde içsel bütünleşme ve dışsal odaklanma düzeylerinin performansa etkileri. Doğuş Üniversitesi Dergisi / The Effects on the managerial performance of the levels of internal integration and external orientations cultural dimensions within the firms, Journal of Dogus University, 4, 55-70.
  • Fekete, H., & Bocskei, E. 2011. Cultural waves in company performance. Research Journal of Economics, Business and ICT, 3.
  • Fey, C.F., & Denison, D.N. 2000. Organization Culture And Effectiveness: The Case of Foreign Firms in Russia and Sweden. Working Paper Services in Business Administration, (4).
  • Fey, C. F., & Denison, D. R. 2003. Organizational culture and effectiveness: can American theory be applied in Russia? Organization Science, 14, 686-706.
  • Field, A. 2000. Discovering Statistics Using SPSS For Windows. Thousand Oaks. London. Sage Publications. Field, A. 2005. Discovering Statistics Using SPSS . Thousand Oaks, CA, US.
  • Fisher, C. J. 1997. Corporate Culture and Perceived Business Performance: A Study of the Relationship Between the Culture of An Organization and Perceptions of Its Financial and Qualitative Performance. Unpublished PhD Dissertation, California School of Professional Psychology, Los Angeles.
  • Garmendia, J. A. 2004. The impact of corporate culture on company performance. Current Sociology, 52, 1021-1038.
  • Ghanavati, M. 2014. The effect of corporate culture and market orientation on Iranian industrial SMEs' performance. Iranian Journal of Management Studies, 7, 413-436.
  • Giberson, T. R., Resick, C. J., Dickson, M. W., Mitchelson, J. K., Randall, K. R., & Clark, M. A. 2009. Leadership and organizational culture: Linking CEO characteristics to cultural values. Journal of Business and Psychology, 24, 123-137.
  • Gillespie, M. A., Denison, D. R., Haaland,S., Smerek, R., & Neale, W. S. 2008. Linking organizational culture and customer satisfaction: Results from two companies in different industries. European Journal of Work and Organizational Psychology, 17, 112-132.
  • Glaser, B. J. 2014. Organizational Culture and Financial Performance and the Moderating Effect of Organizational Age. Unpublished PhD Dissertation, Walden University, Minneapolis.
  • Gliem, J. A., & Gliem, R. R. 2003. Calculating, interpreting, and reporting Cronbach’s alpha reliability coefficient for Likert-type scales. Midwest Research-to-Practice Conference in Adult, Continuing, and Community Education. Columbus, Ohio.
  • Gordon, G. G., & Di Tomaso, N. 1992. Predicting corporate performance from organizational culture. Journal of Management Studies, 29, 783-798.
  • Han, H. 2012. The relationship among corporate culture, strategic orientation and financial performance. Cornell Hospitality Quarterly, 53, 207-219.
  • Hartnell, C. A., Ou, A. Y., & Kinicki, A. 2011. Organizational culture and organizational effectiveness: A meta-analytic ınvestigation of the competing values framework's theoretical suppositions. Journal of Applied Psychology, 96, 677.
  • Hofstede, G. 1984. Culture's Consequences: International Differences In Work- Related Values. California: Sage Publications.
  • Hofstede, G., & Bond, M. H. 1988. The Confucius connection: From cultural roots to economic growth. Organizational Dynamics, 16, 5-21.
  • Hofstede, G. 1991. Cultures and Organizations. Intercultural Cooperation and Its Importance For Survival. Software of the Mind. London: Mc Graw-Hill .
  • Hofstede, G., & Peterson, M. F. 2000. Culture: National values and organizational practices. Handbook of Organizational Culture and Climate, 3, 401-416.
  • Hofstede, G. 2003. Culture's Consequences: Comparing Values, Behaviors, Institutions and Organizations Across Nations. California: Sage Publications.
  • Hofstede, G. 2004. Cultures and Organizations:Software of the Mind. New York: McGraw Hill.
  • Horváth, R., & Spirollari, P. 2012. Do the board of directors’ characteristics influence firm’s performance? The US evidence. Prague Economic Papers, 4, 470-486.
  • John, A. O., & Adebayo, O. 2013. Effect of firm size on profitability: Evidence from Nigerian manufacturing sector. Prime Journal of Business Administration and Management, 3, 1171-1175.
  • Joseph, O. O., & Kibera, F. 2015. The influence of organizational culture and market orientation on performance of microfinance institutions in Kenya. International Journal of Business and Management, 10, 204.
  • Kaen, F. R., & Baumann, H. D. 2003. Firm size, employees and profitability in US manufacturing industries. Social Science Research Network, 2, 746-751.
  • Kandula, S. R. 2006. Performance Management. New Delhi: Prentice Hall of India.
  • Karaca‐Mandic, P., Norton, E. C., & Dowd, B. 2012. Interaction Terms in Nonlinear Models. Health Services Research, 47, 255-274.
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There are 98 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section Articles
Authors

Adem Böyükaslan 0000-0002-9073-0554

Hasan Aşıkoğlu 0000-0003-4282-4561

Project Number 15.SOSBIL.02
Publication Date May 1, 2022
Submission Date January 14, 2021
Published in Issue Year 2022 Volume: 51 Issue: 1

Cite

APA Böyükaslan, A., & Aşıkoğlu, H. (2022). Does Organizational Culture Impact on Firm Performance: Evidence From Turkey. Istanbul Business Research, 51(1), 149-174. https://doi.org/10.26650/ibr.2022.51.861397

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