The Value of Value Sets

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The Value of Value Sets

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Titel: The Value of Value Sets
Forfatter: Sløk-Madsen, Stefan K.; Christensen, Jesper
Resume: The world over classrooms in business schools are being taught that corporate values can impact performance. The argument is typically that culture matter more than strategy plans and culture can be influenced and indeed changed by a shared corporate value set. While the claim seems intuitively and anecdotally true surprisingly little hard evidence has been produced either for or against. This study attempts to rectify this. The study claims that for corporate values to matter they must at least align, and potentially alter, employee decision-making hence their concept of optimality and rational behavior. This paper attempt to test such a claim. This is done via unique and privileged access to top-level managers in a Fortune 250 company. This company is special in having very well-defined, long-running values that are in opposition to a narrowly defined homo-economics rationality. These values and their precise intonation and implementation can be traced to unique events and periods in the company history. The managers partaking in this study were present at these events and periods, and represent a very unique and curated group of test subjects. The managers were subjected to multilevel experiments involving vignettes and games. Their results were compared to their actual knowledge of the content of the company corporate values. The results were tested against hypotheses on expected rational behavior and a control group consisting of similar level managers from other companies. This study makes a unique contribution to the effects of investment in shared company values, and to whether agent rationality can be fundamentally changed by committed organizational efforts.
URI: http://hdl.handle.net/10398/9490
Dato: 2017-05-30
Note: Working Paper for Prague Behavioral Conference April 2017

Creative Commons License This work is licensed under a Creative Commons License.

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