Individualistic CEO and corporate innovation: Evidence from U.S. frontier culture

Lei Gao, Jianlei Han, Zheyao Pan and Huixuan Zhang

Research Policy, 2023, vol. 52, issue 9

Abstract: We study the relationship between a CEO's individualistic cultural background and corporate innovation. Using hand-collected data on the birthplaces of U.S.-born CEOs, we present robust evidence demonstrating that CEOs born in frontier counties with a higher level of individualistic culture are associated with superior corporate innovation outcomes. Firms led by these CEOs exhibit higher levels of both quantity and quality in their innovation output, placing a greater emphasis on breakthrough innovation compared to firms led by CEOs born elsewhere. Furthermore, our findings are consistent with the notion that individualistic CEOs cultivate an innovation-oriented corporate culture and enhance human capital by attracting a greater inflow of inventors, thereby promoting corporate innovation.

Keywords: Innovation; Culture; Individualism; Frontier history; Human capital (search for similar items in EconPapers)
JEL-codes: G30 M14 N9 O31 O32 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:52:y:2023:i:9:s0048733323001361

DOI: 10.1016/j.respol.2023.104852

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