“…Further, previous literature on measuring corporate culture through content analysis has identified various vehicles, including annual reports of listed firms [49][50][51], 10-K filings of listed firms [52][53][54][55], earnings call transcripts [56,57], statements about core values on corporate official websites [58,59], employee reviews [60] and the like. It is worth noting that, although media coverage as a medium of content is also considered to be used for measuring corporate culture, yet media coverage, in extant literature, is mainly utilized for sentiment analysis [35][36][37][38][39] and other areas, like images and portrayals of famous people [99], and national cultural traits PLOS ONE [100]. Consequently, this study extends the scope of content analysis by adopting the approach of analyzing news stories to measure organizational culture.…”