摘要
Cultural traditions have consistently shaped people's values and beliefs, thereby influencing various aspects of society, including the economy. This paper examines the impact of kinship-based clans, an exceptionally significant social organization in premodern China, on contemporary corporate innovation. By utilizing the number of genealogies as a proxy for local clan strength, we find compelling evidence that firms in prefectures with a more pronounced clan culture produce greater innovative outputs. Delving into potential channels, our analysis demonstrates that clans can act as informal institutional arrangements, offer managerial incentives, and ease financial constraints. Moreover, the kinship-based clan background of CEOs spurs innovation activities.
源语言 | 英语 |
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文章编号 | 102229 |
页数 | 20 |
期刊 | Pacific-Basin Finance Journal |
卷 | 83 |
DOI | |
出版状态 | 已出版 - 1 2月 2024 |
成果物的来源
- ABDC-A
- SSCI
指纹
探究 'Clan culture and corporate innovation' 的科研主题。它们共同构成独一无二的指纹。引用此
Li, C., Wang, C., & Xue, C. (2024). Clan culture and corporate innovation. Pacific-Basin Finance Journal, 83, 文章 102229. https://doi.org/10.1016/j.pacfin.2023.102229