Another study that confirms that if you invest in a corporate culture, it has a positive impact on the possible performance results of the organisation, but not vice versa.
“Using data collected from 95 franchise automobile dealerships over 6 years, we studied longitudinal culture–performance relationships… Results indicate that culture “comes first,” consistently predicting subsequent ratings of customer satisfaction and vehicle sales, with no evidence obtained for a reciprocal performance-to-culture feedback loop”— Boyce et al. (2015)
Source: Boyce et al., “Which comes first, organizational culture or performance? A longitudinal study of causal priority with automobile dealerships” (2015), https://doi.org/10.1002/job.1985