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

Preview

Text Corporate culture and Innovation final manuscript.pdf - Accepted Version Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (305kB) | Preview

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

Actions (login required)

View Item