EconPapers    
Economics at your fingertips  
 

Creative corporate culture and innovation

Franco Fiordelisi, Luc Renneboog (), Ornella Ricci and Saverio Stentella Lopes

Journal of International Financial Markets, Institutions and Money, 2019, vol. 63, issue C

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.

Keywords: Corporate culture; Creative companies; Creativity; Innovation; R&D; Textual analysis (search for similar items in EconPapers)
JEL-codes: G23 G32 L25 O31 M14 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1042443118304190
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:intfin:v:63:y:2019:i:c:s1042443118304190

DOI: 10.1016/j.intfin.2019.101137

Access Statistics for this article

Journal of International Financial Markets, Institutions and Money is currently edited by I. Mathur and C. J. Neely

More articles in Journal of International Financial Markets, Institutions and Money from Elsevier
Bibliographic data for series maintained by Nithya Sathishkumar ().

 
Page updated 2021-05-07
Handle: RePEc:eee:intfin:v:63:y:2019:i:c:s1042443118304190