Abstract
Purpose: This study aims to examine the impact of various dimensions of organizational culture on the market performance of companies listed on the Tehran Stock Exchange. In this regard, four dimensions of organizational culture, including collaborative, control, competitive, and creative cultures, have been analyzed.
Method: The research methodology is based on content analysis of board of directors' reports to the general meeting of shareholders using text mining techniques. The statistical population consists of companies listed on the Tehran Stock Exchange from 2013 to 2023, with a final research sample comprising 161 firms. To test the hypotheses, multivariate regression models and panel data analysis were employed using EViews software.
Results: The results indicate that all four dimensions of organizational culture have a significant and positive impact on market performance. The collaborative culture enhances organizational relationships and synergy. The control culture improves transparency and oversight, thereby increasing investor trust. The competitive culture fosters motivation, innovation, and organizational competitiveness. Additionally, the creative culture strengthens innovation, product development, and the introduction of new solutions, improving the companies’ position in the capital market.
Conclusion: Based on the findings, organizational culture plays a fundamental role in enhancing market performance. Organizations that emphasize various dimensions of organizational culture not only achieve greater financial stability and transparency but also gain a stronger competitive advantage.
Contribution: By utilizing text mining methods and quantifying organizational culture indicators, this study introduces a novel approach to measuring the impact of cultural factors on corporate financial performance. The findings can assist managers and policymakers in adopting appropriate cultural strategies to improve market performance and increase investor confidence.
Keywords
Main Subjects
)