For most engineers (and people) culture is extremely important. That being said, each person is attracted to a specific culture. The type of culture that people like can and often does change over time as well.
Culture tends to be set by the founders and the initial team as they tend to hire people with similar views and thoughts of how a company should be run.
Hubspot is an example of a company that focuses a lot on their specific culture: Culture Code: Creating A Lovable Company
Contrast the above slides withe the culture of a cut throat investment bank – they are wildly different.
Most engineers thrive in a culture that strives for excellence, allows them input into the product process, is flexible with their working schedule.
Abusive bosses who micromanage, demand set hours, who are disrespectful, etc. are going to have less performing workers who will eventually find another job.
Basically a culture mismatch will have a biggest impact on productivity (both positive and negative).
Source: Quora