National culture and corporate innovation
Research output: Journal Publications and Reviews (RGC: 21, 22, 62) › 21_Publication in refereed journal › peer-review
|Journal / Publication||Pacific-Basin Finance Journal|
|Online published||22 Apr 2017|
|Publication status||Published - Jun 2017|
|Link to Scopus||https://www.scopus.com/record/display.uri?eid=2-s2.0-85025818126&origin=recordpage|
In this paper, we examine how cultural norms along the dimensions of individualism-collectivism and uncertainty-avoidance affect corporate innovation. Using a comprehensive sample across 41 countries, we find that firms located in countries with higher levels of individualism generate more and higher impact patents, and are more efficient in converting R&D into innovative output. In contrast, we find that firms located in countries with higher levels of uncertainty-avoidance produce fewer and less significant patents, and are less efficient with their R&D expenditure. Taken together, our findings show that national culture plays an important role in influencing corporate innovation around the world.
- National culture, Corporate innovation, Individualism, Uncertainty-avoidance, Innovation efficiency