Abstract
| Original language | English |
|---|---|
| Article number | UNSP 101137 |
| Journal | Journal of International Financial Markets, Institutions and Money |
| Volume | 63 |
| DOIs | |
| Publication status | Published - Nov 2019 |
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Keywords
- corporate culture
- creative companies
- creativity
- innovation
- R&D
- textual analysis
Cite this
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Creative corporate culture and innovation. / Fiordelisi, F.; Renneboog, Luc; Ricci, Ornella; Lopes, SS.
In: Journal of International Financial Markets, Institutions and Money, Vol. 63, UNSP 101137, 11.2019.Research output: Contribution to journal › Article › Scientific › peer-review
TY - JOUR
T1 - Creative corporate culture and innovation
AU - Fiordelisi, F.
AU - Renneboog, Luc
AU - Ricci, Ornella
AU - Lopes, SS
PY - 2019/11
Y1 - 2019/11
N2 - 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.
AB - 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.
KW - corporate culture
KW - creative companies
KW - creativity
KW - innovation
KW - R&D
KW - textual analysis
U2 - 10.1016/j.intfin.2019.101137
DO - 10.1016/j.intfin.2019.101137
M3 - Article
VL - 63
JO - Journal of International Financial Markets, Institutions and Money
JF - Journal of International Financial Markets, Institutions and Money
SN - 1042-4431
M1 - UNSP 101137
ER -