Social Progress and Corporate Culture

62 Pages Posted: 27 Jan 2019

See all articles by Gary B. Gorton

Gary B. Gorton

Yale School of Management; National Bureau of Economic Research (NBER); Yale University - Yale Program on Financial Stability

Alex Zentefis

Yale School of Management

Multiple version iconThere are 2 versions of this paper

Date Written: January 15, 2019

Abstract

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.

Keywords: corporate culture, social progress

JEL Classification: D23, G30, G38, J31, L13

Suggested Citation

Gorton, Gary B. and Zentefis, Alexander, Social Progress and Corporate Culture (January 15, 2019). Yale ICF Working Paper No. 2019-01, Available at SSRN: https://ssrn.com/abstract=3316345 or http://dx.doi.org/10.2139/ssrn.3316345

Gary B. Gorton (Contact Author)

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National Bureau of Economic Research (NBER)

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Yale University - Yale Program on Financial Stability

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Alexander Zentefis

Yale School of Management ( email )

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