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Natural disasters and corporate innovation.
- Source :
- European Journal of Finance; Jan(Late)2024, Vol. 30 Issue 2, p144-172, 29p
- Publication Year :
- 2024
-
Abstract
- We examine how natural disasters affect corporate innovation. Using a comprehensive sample of U.S. firms and inventors, we find that natural disasters significantly drop innovation quantity and quality. The results are robust to include a broad set of regional characteristics, matching analysis, and alternative proxies for innovation. These effects persist for up to three years after the disaster. We also provide suggestive evidence that financial constraints due to natural disasters give firms less incentive to innovate. Further analysis shows that natural disasters have impacts on inventor relocation, innovation productivity, and innovation risk. [ABSTRACT FROM AUTHOR]
- Subjects :
- NATURAL disasters
MONETARY incentives
INVOLUNTARY relocation
INDUSTRIAL safety
PROXY
Subjects
Details
- Language :
- English
- ISSN :
- 1351847X
- Volume :
- 30
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- European Journal of Finance
- Publication Type :
- Academic Journal
- Accession number :
- 175034515
- Full Text :
- https://doi.org/10.1080/1351847X.2023.2199938