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Creative Corporate Culture and Innovation

Renneboog, Luc and Ricci, Ornella and Francesco Saverio, Stentella Lopes and Fiordelisi, Franco (2019) 'Creative Corporate Culture and Innovation.' Journal of International Financial Markets, Institutions and Money. ISSN 1042-4431

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Abstract

We identify creative companies by means of a textual analysis that hinges on the competing values framework. We show that a creative corporate culture is an important driver of innovation, as measured by the number of patents as well as the patents’ importance as captured by patents’ citations and market values. A portfolio of creative companies earns significantly positive annual four-factor alphas. We quantify potential biases that could be induced by the omission of relevant variables by formally examining coefficient movements after inclusion of controls.

Item Type: Article
Uncontrolled Keywords: Corporate Culture, Creative Companies, Creativity, Innovation, R&D, Textual Analysis
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Finance Centre
Depositing User: Elements
Date Deposited: 05 Nov 2019 09:46
Last Modified: 22 Oct 2020 01:00
URI: http://repository.essex.ac.uk/id/eprint/25716

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