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Innovation During Changing Times: Impact of Macro-Environmental Factors and Firm Characteristics on The Innovation Output of Firms
Abstract
In my dissertation, I aim to contribute to the innovation literature. A major stream of research in this literature is focused on the factors that influence innovation in firms, conceptualized mainly as product (goods and services) innovation. A second and equally significant research stream is focused on how innovation impacts firm performance. In my first essay, I contribute to both research streams by examining the determinants and performance consequences of business model innovation, a prevalent form of innovation that has seen limited empirical research in marketing. I find that compared to firms that focus on product innovation, firms that pursue business model innovation are larger, younger, have less firm-level technical knowledge, and operate in high-growth industries. Results also show that while investors value all types of innovation, they value business model innovation more than product innovation. This research has important implications for firms considering pursuing business model innovation.
In my second essay, I contribute to the literature on factors influencing innovation by examining a macro-level factor: climate change. I find that climate change leads to a decrease in the number of new product introductions made by firms headquartered in cities impacted by climate hazards. This negative effect is smaller for firms that spend more on R&D relative to their industry peers. This research has important implications for both firms and policy makers for formulating strategies that protect corporate innovation from the effects of climate change.
Citation
Rangaswamy, Priya (2023). Innovation During Changing Times: Impact of Macro-Environmental Factors and Firm Characteristics on The Innovation Output of Firms. Doctoral dissertation, Texas A&M University. Available electronically from https : / /hdl .handle .net /1969 .1 /198930.