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Incentivizing Innovation Under Ambiguity: The Role for Intrinsic Incentives and Corporate Identity

Time:2017-11-17 15:56:42  Hits:[]

This paper examines the role of intrinsic incentives and corporate identity in motivating innovation. We show that when innovation is ambiguous, the use of extrinsic, high-powered incentives can deter innovation when it is not complemented with strong intrinsic incentives - the degree of self-motivation, and the extent to which the agent identifies with firm's goals and mission. The paper predicts that extrinsic and intrinsic incentives are not simple substitutes, but play a complementary role in motivating innovation, which explains why many innovative companies that provide generous extrinsic incentives also invest heavily in fostering corporate culture.
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