Where Informal Institutions Lead, Innovation Follows: Role of Local Creative Culture on Bank Financial Innovation
基于2017-2022年面板数据，研究发现位于高创意文化环境中的银行金融创新更多，且该效应在非家族控制银行中更强，为将地方创意文化融入组织实践以促进创新提供了证据。
ABSTRACT This paper examines the impact of local creative culture on bank financial innovation within the framework of informal institutional theory. Using comprehensive panel data from 2017 to 2022, we reveal that banks located in highly creative environments exhibit greater financial innovation. This relationship holds true across various bank types, including market‐focused, geographically diversified, publicly listed, and private institutions. However, it is partially limited to being observed in foreign banks. Additionally, the effect of creative culture is significantly stronger in non‐family‐controlled banks compared to family‐controlled ones. These findings highlight the importance of integrating local creative culture into organizational practices to promote financial innovation and secure competitive advantages, supporting the notion of informal institutional theory.