The DOI matches its Crossref record; 35 of the 35 references it cites were found in a registry or an index.
The Role of Corporate Culture in Bad Times: Evidence from the COVID-19 Pandemic
Abstract
After fitting a topic model to 40,927 COVID-19–related paragraphs in 3,581 earnings calls over the period Jan. 22–Apr. 30, 2020, we obtain firm-level measures of exposure and response related to COVID-19 for 2,894 U.S. firms. We show that despite the large negative impact of COVID-19 on their operations, firms with a strong corporate culture outperform their peers without a strong culture. Moreover, these firms are more likely to support their community, embrace digital transformation, and develop new products than those peers. We conclude that corporate culture is an intangible asset designed to meet unforeseen contingencies as they arise.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Common risk factors in the returns on stocks and bonds
Fama, E. F., & French, K. R. (1993) · Journal of Financial Economics · doi:10.1016/0304-405x(93)90023-5 · Cited by 25,754
Distributed Representations of Words and Phrases and their Compositionality
Mikolov, T., Sutskever, I., Chen, K., Corrado, G., & Dean, J. (2013) · arXiv · doi:10.48550/arxiv.1310.4546 · Cited by 24,533
On Persistence in Mutual Fund Performance
Carhart, M. M. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03808.x · Cited by 17,283
When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks
LOUGHRAN, T., & MCDONALD, B. (2011) · The Journal of Finance · doi:10.1111/j.1540-6261.2010.01625.x · Cited by 6,015
Blei, D. M. (2012) · Communications of the ACM · doi:10.1145/2133806.2133826 · Cited by 5,516
Harris, Z. S. (1954) · WORD · doi:10.1080/00437956.1954.11659520 · Cited by 4,807
LINS, K. V., SERVAES, H., & TAMAYO, A. (2017) · The Journal of Finance · doi:10.1111/jofi.12505 · Cited by 3,794
Corporate Social Responsibility, Customer Satisfaction, and Market Value
Luo, X., & Bhattacharya, C. B. (2006) · Journal of Marketing · doi:10.1509/jmkg.70.4.001 · Cited by 3,439
Intrinsic and extrinsic motivation
Benabou, R., & Tirole, J. (2003) · Review of Economic Studies · doi:10.1111/1467-937x.00253 · Cited by 2,913
The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness
Servaes, H., & Tamayo, A. (2013) · Management Science · doi:10.1287/mnsc.1120.1630 · Cited by 2,534
Cited by
Rethinking financial contagion: Information transmission mechanism during the COVID-19 pandemic
Yarovaya, L., Brzeszczyński, J., Goodell, J. W., Lucey, B., & Lau, C. K. M. (2022) · Journal of International Financial Markets, Institutions and Money · doi:10.1016/j.intfin.2022.101589 · Cited by 267
Metadata
- Authors
- Li, K., Liu, X., Mai, F., & Zhang, T.
- Venue
- Journal of Financial and Quantitative Analysis
- Publisher
- Cambridge University Press (CUP)
- Published
- 2021-06-14
- Volume
- 56
- Issue
- 7
- Pages
- 2545-2583
- ISSN
- 0022-1090 (ISSN-L)
- 1756-6916
- OpenAlex
- W3166522285
- Cited by
- 253
- References
- 35
- FWCI
- 26.22
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: The Role of Corporate Culture in Bad Times: Evidence from the COVID-19 Pandemic. https://app.cochat.ai/papers/10.1017/s0022109021000326
- The paper
- Li, K., Liu, X., Mai, F., & Zhang, T. (2021). The Role of Corporate Culture in Bad Times: Evidence from the COVID-19 Pandemic. Journal of Financial and Quantitative Analysis. https://doi.org/10.1017/s0022109021000326
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
