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Corporate innovations as institutional anomie: Patent activities and financial performance of the international aerospace industry

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  • Yang, Ann Shawing
  • Okada, Hiromu

Abstract

We analyze the relationship between corporate innovation and corporate performance in the international aerospace industry via institutional anomie theory. Panel data analysis with mixed-effect models is applied using material from 2000 to 2016. Research and development and market value have significant influence on corporate innovation as positive institutional anomie for aircraft and missile sub-industries. However, operating performance exerts a significant negative influence on aerospace industry including emerging and developed countries. Market value has a significant negative influence on the patenting activities of emerging countries. Firm age has significant influence on corporate innovation by enhancing positive institutional anomie in patent activities.

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  • Yang, Ann Shawing & Okada, Hiromu, 2019. "Corporate innovations as institutional anomie: Patent activities and financial performance of the international aerospace industry," Finance Research Letters, Elsevier, vol. 28(C), pages 328-336.
    • Handle: RePEc:eee:finlet:v:28:y:2019:i:c:p:328-336
    DOI: 10.1016/j.frl.2018.06.001
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    More about this item

    Keywords

    Patent activities; Institutional anomie theory; Google Patent database; Corporate performance; International aerospace industry;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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