We present a novel social media dataset and employ an automated computational linguistics technique to infer employees’ perceptions of corporate culture. In particular, we provide an empirical test of ‘goal-setting theory’ which states that the extent to which employees perceive their roles to be challenging directly impacts their job satisfaction and firm performance. Our findings are consiste...

Based on the Competing Values Framework (CVF), we score 10-K text to measure company culture in four types (collaborative, controlling, competitive, and creative) examine its role firm stability. We find that firms with higher controlling fared significantly better during 2008-09 crisis. Firms stronger experienced fewer layoffs, less negative asset growth, greater debt issuance, increased acces...