Creative Corporate Culture and Innovation

Luc Renneboog, F. Fiordelisi, Ornella Ricci, Saverio Stentella Lopes

Research output: Working paperDiscussion paperOther research output

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’ importance (captured by patents’ 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.
Original languageEnglish
Place of PublicationTilburg
PublisherCentER, Center for Economic Research
Number of pages26
Volume2018-053
Publication statusPublished - 19 Dec 2018

Publication series

NameCentER Discussion Paper
Volume2018-053

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Keywords

  • corporate culture
  • creative companies
  • creativity
  • innovation
  • R&D
  • textual analysis

Cite this

Renneboog, L., Fiordelisi, F., Ricci, O., & Stentella Lopes, S. (2018). Creative Corporate Culture and Innovation. (CentER Discussion Paper; Vol. 2018-053). Tilburg: CentER, Center for Economic Research.