Risk culture in corporate innovation

Po Hsin Ho, Chia Wei Huang, Chih Yung Lin, Ju Fang Yen

研究成果: 雜誌貢獻期刊論文同行評審

2 引文 斯高帕斯(Scopus)

摘要

In this study, we utilize stock market beta to examine the impact of corporate risk culture on innovation within U.S. firms. Our results reveal that firms with a pronounced high-risk culture invest more in innovation and generate greater innovation outcomes. These firms tend to employ overconfident or generalist managers and offer them incentive compensation to spur innovation. Further analysis underscores that the influence of risk culture on innovation occurs predominantly in innovative industries. Our findings highlight that firms with a high-risk culture excel in seizing innovative growth opportunities.

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文章編號102999
期刊International Review of Financial Analysis
91
DOIs
出版狀態已出版 - 1月 2024

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