Individualistic CEO and corporate innovation: Evidence from U.S. frontier culture |
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| Institution: | 1. College of Business, George Mason University, United States;2. Macquarie Business School, Macquarie University, Australia;1. Centre for Business in Society (CBiS), Coventry University, Priory Street, Coventry CV1 5FB, UK;2. School of Slavonic and East European Studies, University College London, Taviton Street 16, London WC1H 0BW, UK;3. School of Applied Sciences, University of Campinas, Rua Pedro Zaccaria, 1300, Limeira, São Paulo 13484-350, Brazil;1. Department of Agricultural Sciences, Latokartanonkaari 7, 00014 University of Helsinki, Helsinki, Finland;2. Ruralia Institute, Lönnrotinkatu 7, 50100 University of Helsinki, Mikkeli, Finland;3. Helsinki Institute of Sustainability Sciences (HELSUS), Yliopistonkatu 3, 00100 University of Helsinki, Helsinki, Finland;4. Natural Resources Institute Finland, Latokartanonkaari 9, 00790 Helsinki, Finland;1. Ohio State University, Columbus, Ohio, United States of America;2. Tilburg School of Economics and Management, Tilburg University, Tilburg, The Netherlands;1. TBS Business School, Strategy, Entrepreneurship & Innovation Dept., 20 bd. Lascrosses, 31000 Toulouse, France;2. MINES Paris–PSL University, Institut des Hautes Etudes pour l''Innovation et l''Entrepreneuriat (IHEIE), 75006 Paris, France;3. Ecole Polytechnique, Institut Polytechnique de Paris, i3-CRG, CNRS, 91120 Palaiseau, France;4. MINES Paris–PSL University, Centre for Management Science (CGS), i3 UMR CNRS 9217, 60 Boulevard St Michel, 75006 Paris, France |
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| Abstract: | We study the relationship between a CEO's individualistic cultural background and corporate innovation. Using hand-collected data on the birthplaces of U.S.-born CEOs, we present robust evidence demonstrating that CEOs born in frontier counties with a higher level of individualistic culture are associated with superior corporate innovation outcomes. Firms led by these CEOs exhibit higher levels of both quantity and quality in their innovation output, placing a greater emphasis on breakthrough innovation compared to firms led by CEOs born elsewhere. Furthermore, our findings are consistent with the notion that individualistic CEOs cultivate an innovation-oriented corporate culture and enhance human capital by attracting a greater inflow of inventors, thereby promoting corporate innovation. |
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