@techreport{242f3c3d0018460a90b73ca8e10cf806,
title = "Creative Corporate Culture and Innovation",
abstract = "We define creative companies by means of the Competing Value Framework, and we identify them by means of textual analysis. We show that a creative corporate culture is an important driver of innovation, as measured by the number of patents a firm files for as well as the patents{\textquoteright} importance (captured by patents{\textquoteright} citation scores). Creative firms are able to reach a higher firm value from their investment in innovation. The potential bias induced by omitted variables is then addressed by estimating the additional patents, patent citations, and value generated by creative firms after state-induced tax incentives on R&D in a differences-in-differences framework.",
keywords = "corporate culture, creative companies, creativity, innovation, R&D, textual analysis",
author = "Luc Renneboog and F. Fiordelisi and Ornella Ricci and {Stentella Lopes}, Saverio",
note = "CentER Discussion Paper Nr. 2018-053",
year = "2018",
month = dec,
day = "19",
language = "English",
volume = "2018-053",
series = "CentER Discussion Paper",
publisher = "CentER, Center for Economic Research",
type = "WorkingPaper",
institution = "CentER, Center for Economic Research",
}