Printed in Great Britain 0263-2373/01 $20.00 + 0.00PII: S0263-2373(01)00023-8 Corporate Culture and the

The paper deals with the effects of corporate culture on financial performance. Previous authors have suggested that culture has an impact on financial performance. Unlike previous studies which have only examined the effects of culture on financial performance using cross sectional data, this study was done in a single organization. The company had twenty relatively comparable divisions, and provides a somewhat rare, if not unique, opport-unity to assess the effects of corporate culture on financial performance. The results, using a regression analysis, suggest that there is a statistically significant relationship (at 0.05 level) between culture and financial per-formance (measured by ‘EBIT, ’ or earnings before interest and taxes). Thus these results provide sup-port for the previously hypothesized relationship between culture and financial performance with significant implications for management theor