Does strong corporate culture create long-term value? (Grace Wallack, Brookings)

In 2005, billionaire hedge fund manager Eddie Lampert acquired a large portion of Sears Holdings, the parent company of Sears and Kmart, among other brands. In 2008, Lampert reorganized the company into 30 autonomous business units that would operate like independent businesses, with their own IT contracts, marketing officers, and most importantly, annual financial statements.

http://www.brookings.edu/blogs/fixgov/posts/2016/05/02-corporate-culture-long-term-value-paper-wallack