Does top management Team's academic experience promote corporate innovation? Evidence from China

被引：74
作者：
Shen, Huayu [1 ]
Lan, Fengyun [2 ]
Xiong, Hao [3 ]
Lv, Jun [4 ]
Jian, Jianhui [1 ]
机构：
[1] North China Elect Power Univ, Sch Econ & Management, Beijing 102206, Peoples R China
[2] Beijing Wuzi Univ, Business Sch, Beijing 101149, Peoples R China
[3] Guizhou Univ Finance & Econ, Sch Accounting, Guiyang 550025, Guizhou, Peoples R China
[4] Shandong Univ Sci & Technol, Coll Econ & Management, Qingdao 266590, Shandong, Peoples R China
来源：
ECONOMIC MODELLING | 2020年 / 89卷
基金：
中国国家自然科学基金;
关键词：
Academic experience; Top management teams; Corporate innovation; Information asymmetry; Internal controls; CEO CHARACTERISTICS; INFORMATION ASYMMETRY; INCENTIVES; PROFESSORS; OWNERSHIP; GROWTH; MARKET; BOARD;
D O I：
10.1016/j.econmod.2019.11.007
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study investigates whether top management teams' academic experience affects corporate innovation, using manually-collected data on Chinese firms from the period of 2008-2017. The results indicate that academic experience has a strong positive effect on corporate innovation. The positive effect of academic experience on corporate innovation is more pronounced, when firms grow faster or are non-state-owned. By exploring the transmission channels, the results generally show that academic experience influences corporate innovation by improving internal controls and reducing the degree of information asymmetry. These findings are among the first empirical evidence of the association between academic experience of top management teams and corporate innovation.
引用
收藏
页码：464 / 475
页数：12
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