Kim, Hwa-sung - In: Financial innovation : FIN 9 (2023) 1, pp. 1-27
. The future of a firm depends on its innovation investment strategy. According to the literature, innovation investments … are affected by ambiguity. This study examines how ambiguity affects the innovation strategies of managers. We show that … the innovation strategies of ambiguity-averse managers differ from those of ambiguity-neutral managers. Unlike ambiguity …