Happiness and Innovation Around the World
利用世界幸福报告数据，研究发现幸福感与企业创新正相关，尤其在研发密集型企业中更显著，并通过合作、生产率和风险容忍度渠道促进创新。
This study investigates the impact of happiness on corporate innovation around the world. Using novel data from the World Happiness Report, we document that happiness is positively associated with firm innovation. The effect is more pronounced for R&D intensive firms. Further, we find that happiness promotes innovation through channels of collaboration, productivity, and risk tolerance. Our results are robust to including a range of controls and to using an instrumental variable approach and quasi-natural experiment. Overall, our results suggest that happiness can foster corporate innovation around the world.