Corporate Culture and Internal Control in Petroleum Firms

Abstract

A company's perspective, conduct, communication style, and distinctive characteristics make up its corporate culture. Corporate culture is one of the main elements that contributes to a company's success. The purpose of this essay is to ascertain how corporate culture at Vietnam's National Petroleum Group (Petrolimex) affects internal control. The author's primary research methodology combines quantitative and qualitative approaches. Through quantitative research, the model is analyzed, quantified, and tested. We make use of primary data from an employee survey conducted by Petrolimex in Vietnam. Regression models are used to examine the 220 research sample. Research results have determined that corporate culture factors, such as creative culture (sig. = 0.000 < 0.05), affect positive internal control at Petrolimex. Based on the result, we propose governance implications for the business leaders of these firms to improve internal control. Besides, research results provide useful references for research on related issues.