This paper examines the impact of industrial policies (IPs) on innovation in the global automobile industry. We compile the first comprehensive dataset linking global IPs with patent data related to the auto industry from 2008 to 2023. We document a major shift in policy focus: by 2022, nearly...

Purpose This paper aims to study the impact of CEOs' cultural background on corporate innovation. The paper constructs a measure of CEOs' cultural individualism based on their birthplaces and investigates its relationship with firms' patents and citations. The study aims to shed light on the...

Using data on birthplaces of 2,065 CEOs and a local measure of cultural individualism based on the westward expansion in American history, I find a positive relation between CEO cultural individualism and corporate innovation. Firms with individualistic CEOs file more patents and receive more...

This study investigates the impact of market-based environmental regulations on firm innovation by examining one of the first large-scale market-based regulatory attempts in a developing country, China's sulfur dioxide emissions trading program. Based on the difference-in-differences method,...