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Corporate innovations as institutional anomie: Patent activities and financial performance of the international aerospace industry

Ann Shawing Yang and Hiromu Okada

Finance Research Letters, 2019, vol. 28, issue C, 328-336

Abstract: We analyze the relationship between corporate innovation and corporate performance in the international aerospace industry via institutional anomie theory. Panel data analysis with mixed-effect models is applied using material from 2000 to 2016. Research and development and market value have significant influence on corporate innovation as positive institutional anomie for aircraft and missile sub-industries. However, operating performance exerts a significant negative influence on aerospace industry including emerging and developed countries. Market value has a significant negative influence on the patenting activities of emerging countries. Firm age has significant influence on corporate innovation by enhancing positive institutional anomie in patent activities.

Keywords: Patent activities; Institutional anomie theory; Google Patent database; Corporate performance; International aerospace industry (search for similar items in EconPapers)
JEL-codes: C33 G32 L93 O32 O34 (search for similar items in EconPapers)
Date: 2019
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