This study reveals that commercial banking backgrounds of corporate executives have adverse effects on corporate innovation across several dimensions: patent applications, researcher employment, and R&D expenses. The effects intensify as the number of executives possessing such backgrounds...

There has been a financial revolution lead by technology firms over the past decade. Many large established technology giants, from Google, Apple to Amazon in the U.S. are entering the financial service industry. Smaller start-ups, in particular robotic advisors, a.k.a. robo-advisors, have been...