We propose that corporate social responsibility (CSR) serves as an intangible investment in stakeholder relationships to guard against external disruptions. Using a stylized model with customers' and employees' preferences for CSR, we hypothesize that CSR investment, while costly, helps firms...

In this paper, we empirically measure the impact of natural disasters on firm-level operating performance and examine if such impact can be mitigated by technology diversification. Using major natural disasters specified by Barrot and Sauvagnat (2015) and factory location data from the toxic...

In this paper, we use the prestigious iF design award to measure corporate product design novelty and examine how it is influenced by information quality. Using the mandatory adoption of International Financial Reporting Standards (IFRS) in 2005 as a substantial increase in information quality...

While designs play a critical role in corporate innovation and business operations, the determinants of design innovation (i.e., new aesthetic or stylistic forms) are largely underexplored in the literature. Accumulating evidence suggests that openness to the exchange of ideas, the adoption of...

While product and company reputation are among the most valued intangible assets, we have little understanding of when and why managers focus on such resources. This shortcoming has limited both the resource-based and attention-based views of the firm. We construct a novel and comprehensive...

Given the profound effects of financial fraud on corporate managers, inventors, and cultures, this paper investigates how financial fraud influences technological innovation at both firm and inventor levels. We find that the occurrence of financial fraud is negatively related to firms’ and...