National culture and corporate innovation

Yangyang Chen, Edward J. Podolski, Madhu Veeraraghavan

Research output: Journal article publicationJournal articleAcademic researchpeer-review

68 Citations (Scopus)


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.
Original languageEnglish
Pages (from-to)173-187
Number of pages15
JournalPacific Basin Finance Journal
Publication statusPublished - 1 Jun 2017


  • Corporate innovation
  • Individualism
  • Innovation efficiency
  • National culture
  • Uncertainty-avoidance

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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