Creative Corporate Culture and Innovation

Creative Corporate Culture and Innovation

Franco Fiordelisi, Luc Renneboog, Ornella Ricci, Saverio Stentella Lopes

Series number :

Serial Number: 
578/2018

Date posted :

November 06 2018

Last revised :

November 06 2018
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Keywords

  • corporate culture • 
  • Creative Companies • 
  • Creativity • 
  • innovation • 
  • R&D • 
  • Textual Analysis

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.
 

Authors

Real name:
Franco Fiordelisi
Real name:
Ornella Ricci
Real name:
Saverio Stentella Lopes