NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Social Progress and Corporate Culture

Gary B. Gorton, Alexander K. Zentefis

NBER Working Paper No. 25484
Issued in January 2019
NBER Program(s):Corporate Finance, Industrial Organization, Labor Studies

Social progress through improved treatment of minority groups (the embrace of anti-racist and anti-sexist norms, for example) may or may not spread to corporate cultures through competition. Sometimes the market fails to adapt on its own and government must pass legislation to secure changes in the workplace. We show how corporate culture is determined, why a variety of corporate cultures exist, and whether progressive corporate cultures can oust regressive ones.

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Document Object Identifier (DOI): 10.3386/w25484

 
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