Title: Creative intelligence

Authors: Kaies Samet; Frédéric Teulon

Addresses: High Institute of Management, Road Jilani Habib, 6002 Gabès, Tunisia; Research Unity in Economy of Development, Faculty of Economics and Management, 4 Airport Road, 3018 Sfax, Tunisia ' IPAG Business School, Saint Germain Boulevard, 184, 75006 Paris, France

Abstract: This paper examines the behavioural finance aspects of developed countries which invest significantly in R&D, while trying to benefit from this investment, within the framework of the so called 'creative intelligence'. At this level, creative intelligence lies in the framework of the 'intelligent' way which must be used to assure creativity and thus innovation. As its name suggests, creative intelligence excludes imitation. Therefore, firstly, it requires an important investment in R&D that manifests itself in the developed countries. The resulting technological change seems to be a necessary but insufficient condition to assure innovation. Indeed, two other factors are necessary for that: the patent, as a form of protection of intellectual property rights, and the human capital (and thus the education). The resulting innovation can be of two forms: either horizontal or vertical, though more interest should be given to vertical innovations since there is a priority in households for quality. The relationship between R&D and stock markets will allow better understanding of the relationship between R&D, innovation, and the benefits that result.

Keywords: creative intelligence; behavioural finance; developed countries; R&D; research and development; innovation; technological change; patents; human capital; horizontal innovation; vertical innovation; stock markets; creativity; IPR protection; intellectual property rights.

DOI: 10.1504/IJBAF.2012.052160

International Journal of Behavioural Accounting and Finance, 2012 Vol.3 No.3/4, pp.127 - 144

Published online: 10 Apr 2015 *

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