Impacts of innovation and diversity on company value: a bibliometric analysis and systematic literature review

Abstract

Objective: Analyze existing academic literature on the impacts of innovation and diversity on the creation of value and financial performance of companies Methodology: Bibliometric analysis and systematic review. The final sample includes 34 articles, obtained from the Web of Science and Scopus databases. Originality/relevance: The Article carries out a joint analysis of the proxies of innovation, intellectual capital, and diversity as determinants of companies’ financial performance and value creation Main results: Suggestion of a future research agenda that proposes i. analyzing the moderating effect of diversity in innovation on company performance, ii. explore the premises of social identity theory to support the study hypotheses, iii. verify the hypotheses using regression models with a binary dependent variable or structural equations, iv. consider alternative proxies for value creation, financial performance, and board diversity, v. analyze data from companies in Latin America with a long time series Theoretical contributions: Literature review on the topics of innovation, board diversity, value creation, and financial performance of companies Social/management contributions: The findings suggest that companies must invest in intellectual capital; product, service, and process innovation; and board diversity as a source of value creation and improvement of their financial performance.