CEO power and innovative knowledge assets: the joint moderating effect of firm size and firm age

In the context of a highly dynamic environment, there has been a notable focus on the development of innovative knowledge assets. The objective of this paper is to investigate whether there is a relationship between CEO power and innovative knowledge assets, and to examine the joint moderating effect of firm size and firm age on that relationship. This can help to achieve the United Nations Sustainable Development Goals (SDGs) like 8: promote sustained, inclusive and sustainable economic growth and 9: promote inclusive and sustainable industrialization and foster innovation. This paper empirically tested the hypotheses based on a sample of manufacturing firms listed on the Shanghai and Shenzhen Stock Exchanges from 2009 to 2019. The fixed effect model was employed to examine the relationship between CEO power and innovative knowledge assets, as well as the joint moderating effect of firm size and firm age. The research results showed that there is a significant positive relationship between CEO power and innovative knowledge assets. Moreover, the significant positive relationship between CEO power and innovative knowledge assets is stronger in larger and older firms. This paper contributes to the existing literature on CEO power and firm innovation, and also offering valuable insights for firms seeking to develop innovative knowledge assets.