Local creative culture and firm value

Simple item page
dc.citation.volume59
dc.contributor.authorD’ Costa M
dc.contributor.authorHabib A
dc.date.accessioned2024-06-12T03:13:36Z
dc.date.available2024-06-12T03:13:36Z
dc.date.issued2024-01
dc.description.abstractIn this paper we investigate the association between local creative culture, and firm value. Using data of US listed firms, we find strong evidence that firms headquartered in US counties with highly creative cultures generate higher firm value. We also find evidence that the positive association between creative culture and firm value is mediated partially through both the innovation and cash holding channels. Our results hold after controlling for endogeneity concerns. Our study contributes to the emerging literature on local creative culture by documenting that such a culture influences managers to undertake risky but profitable projects, thereby, increasing firm value.
dc.description.confidentialfalse
dc.edition.editionJanuary 2024
dc.identifier.citationD’ Costa M, Habib A. (2024). Local creative culture and firm value. Finance Research Letters. 59.
dc.identifier.doi10.1016/j.frl.2023.104701
dc.identifier.eissn1544-6131
dc.identifier.elements-typejournal-article
dc.identifier.issn1544-6123
dc.identifier.number104701
dc.identifier.piiS1544612323010735
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/69808
dc.languageEnglish
dc.publisherElsevier Inc
dc.publisher.urihttps://www.sciencedirect.com/science/article/pii/S1544612323010735
dc.relation.isPartOfFinance Research Letters
dc.rights(c) 2023 The Author/s
dc.rightsCC BY 4.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectCreative culture
dc.subjectFirm value
dc.subjectInnovation
dc.subjectRisk-taking
dc.subjectCash holding
dc.titleLocal creative culture and firm value
dc.typeJournal article
pubs.elements-id485947
pubs.organisational-groupOther
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Published version.pdf
Size:
2.65 MB
Format:
Adobe Portable Document Format
Description:
485947 PDF.pdf
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
9.22 KB
Format:
Plain Text
Description:
Download
Collections
Journal Articles