Title: Analysis of corporate value statements: an empirical study

Authors: Mussie Tessema; Parag Dhumal; Daniel Sauers; Sebhatleab Tewolde; Paulos Teckle

Addresses: Department of Business Administration, Winona State University, 175 W. Mark street, Winona, MN, 55987, USA ' Department of Business, University of Wisconsin-Parkside, 900 Wood Rd, Kenosha, WI 53144, USA ' Department of Business Administration, Winona State University, 175 W. Mark street, Winona, MN, 55987, USA ' Faculty of Health and Social Work, Frankfurt University of Applied Sciences, Zeißelstraße 42, 60318 Frankfurt am Main, Germany ' Department of Business Economics, University Canada West, 675 W 10th Ave., Vancouver, BC V5Z 1L3, Canada

Abstract: Organisations, whether they are private, public or NGOs have a set of values, whether or not they are written down. This study identifies, classifies, and discusses corporate values statements using companies that are listed on the New York Stock Exchange. The sample companies had 51 value classes, which were then grouped into seven value dimensions: commitment to customers, commitment to stakeholders, commitment to employees, commitment to diversity, commitment to integrity, entrepreneurship, and social responsibility. On the average, they had about six publicised corporate values statements. This study also discusses the theoretical and practical implications of the findings and proposes an agenda for future research directions.

Keywords: corporate value; vision; mission; statement; classification; dimensions; strategy; culture; companies; New York Stock Exchange.

DOI: 10.1504/IJCG.2019.101522

International Journal of Corporate Governance, 2019 Vol.10 No.2, pp.149 - 164

Received: 11 Sep 2018
Accepted: 08 May 2019

Published online: 02 Aug 2019 *

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