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Access_open On the Concept of Corporate Culture

Journal Corporate Mediation Journal, Issue 1 2018
Keywords administrative instruments, business administration, corporate culture, corporate governance, long-term value creation
Authors Prof. Dr. Hans Strikwerda
AbstractAuthor's information

    The Dutch Corporate Governance Code-2016 stipulates that the executive board is responsible for creating a culture serving long-term value creation. Because the DCGC is law for public firms with this stipulation, the concept of culture is moved from the realm of informal administrative instruments to that of formal instruments, subject to dispute in case the duty of care is questioned. This article explains the provenance of the concept of culture, its multiplicity of attributed meanings and roles, and its changing nature in the digital era. Also, the article explains that for long-term value creation, more and different measures are needed than culture, values, vision, strategy or codes of conducts. This raises the question of whether an executive board having publicly committed the firm to long-term value creation demonstrates a credible commitment by complying with the DCGC, respectively culture as a means only, and can exculpate itself doing so. The answer is: no.


Prof. Dr. Hans Strikwerda
Prof. Dr J. Strikwerda, University of Amsterdam.
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