Many corporations these days publish and talk about their values, believing these values, and their culture more generally, to be critical to their success. This study illuminates the phenomenon of values articulation and examines the link between these espoused values and financial performance. By examining the values posted by Fortune 100 companies on their websites, we analyse the performance implications associated with the espousal of (certain) values, the number of values and their stability or change over time. Drawing on this analysis and previous studies on values, espoused values, and underpinning theoretical frameworks, we test hypothesis related to the number of espoused values, differentiation and stability over time. We provide interpretations about why it matters not just what companies do but also what they say. (C) 2015 Elsevier Ltd. All rights reserved.
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Univ York, Sch Business & Soc, York, EnglandUniv York, Sch Business & Soc, York, England
Papadas, Karolos A.
Piha, Lamprini
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Natl & Kapodistrian Univ Athens, Dept Business Adm, Athens, GreeceUniv York, Sch Business & Soc, York, England
Piha, Lamprini
Davvetas, Vasileios
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Univ Leeds, Business Sch, Mkt Dept, Leeds, EnglandUniv York, Sch Business & Soc, York, England
Davvetas, Vasileios
Leonidou, Constantinos N.
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Univ Leeds, Business Sch, Mkt Dept, Leeds, England
Open Univ Cyprus, Fac Econ & Management, Latsia, CyprusUniv York, Sch Business & Soc, York, England
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Washington State Univ, Dept Management Informat Syst & Entrepreneurship, Todd Hall 442,POB 644743, Pullman, WA 99164 USAWashington State Univ, Dept Management Informat Syst & Entrepreneurship, Todd Hall 442,POB 644743, Pullman, WA 99164 USA
Crossler, Robert E.
Andoh-Baidoo, Francis Kofi
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Univ Texas Rio Grande Valley, Dept Informat Syst, 1201 W Univ Dr, Edinburg, TX 78539 USAWashington State Univ, Dept Management Informat Syst & Entrepreneurship, Todd Hall 442,POB 644743, Pullman, WA 99164 USA
Andoh-Baidoo, Francis Kofi
Menard, Philip
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Univ S Alabama, Sch Comp, 150 Jaguar Dr,Shelby Hall,Suite 2101, Mobile, AL 36688 USAWashington State Univ, Dept Management Informat Syst & Entrepreneurship, Todd Hall 442,POB 644743, Pullman, WA 99164 USA