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DTSTART:20190331T010000
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DTSTART:20191027T010000
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DTSTART;TZID=Europe/Helsinki:20190201T121500
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SUMMARY:Kieu-Trang NGUYEN (London School of Economics) - "Trust and Innovation within the Firm: Evidence from Matched CEO-Firm Data" Polytechnique Recruitment
DESCRIPTION:Time: 12:15 pm – 1:30 pm\nDate: February 1 \, 2019\nPlace: Room 3001\nKieu-Trang NGUYEN (London School of Economics) – “Trust and Innovation within the Firm: Evidence from Matched CEO-Firm Data” Polytechnique Recruitment\nAbstract:\nThis paper provides evidence on the effect of trust on innovation within firms. I build a new matched CEO-firm-patent dataset covering 5\,753 CEOs in 3\,598 large US public firms and700\,000 patents during 2000-2011. To identify the effect of CEO’s trust\, I exploit variation in generalized trust across the countries of CEOs’ ancestry\, inferred from their last names using de-anonymized historical censuses\, as well as variation in CEOs’ bilateral trust towards inventors. First\, one standard deviation increase in CEO’s generalized trust following a CEO turnover is associated with over 6% increase in firm’s future patents. Second\, changes in CEO’s bilateral trust towards inventors in different countries (i.e.\, different R&D labs within multinational firms)or from different ethnic origins in the same firm have comparable effects on inventors’ patenting\, controlling for CEO and other stringent fixed effects. Trust-induced improvements in innovation are driven entirely by higher-quality patents\, consistent with a model in which CEO’s trust incentivizes researchers to undertake high-risk explorative R&D. Finally\, I show that across and within firms\, CEO’s generalized trust is strongly correlated with a broader corporate culture of trust\, as measured from the text analysis of one million online employee reviews. The evidence provides a micro-foundation for the well-known macro relationship between trust and growth.\n  \n
URL:https://crest.science/event/kieu-trang-nguyen-london-school-of-economics-trust-and-innovation-within-the-firm-evidence-from-matched-ceo-firm-data-polytechnique-recruitment/
LOCATION:3001
CATEGORIES:Economics
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