ESOPs AND NEW PRODUCT LAUNCH: CONDITIONAL EFFECTS OF FINANCIAL SLACK AND OWNERSHIP CONCENTRATION

被引：1
作者：
Agnihotri, Arpita [1 ]
Bhattacharya, Saurabh [2 ]
机构：
[1] Penn State Harrisburg, 777 W Harrisburg Pike, Middletown, PA 17057 USA
[2] Newcastle Univ, Business Sch, 5 Barrack Rd, Newcastle Upon Tyne NE1 4SE, Tyne & Wear, England
来源：
INTERNATIONAL JOURNAL OF INNOVATION MANAGEMENT | 2020年 / 24卷 / 03期
关键词：
Stock options; emerging markets; business group; financial slack; new product; RESEARCH-AND-DEVELOPMENT; COGNITIVE EVALUATION THEORY; BUSINESS GROUPS; CORPORATE GOVERNANCE; FIRM PERFORMANCE; EMERGING MARKETS; STOCK-OPTIONS; INNOVATION; COMPENSATION; PAY;
D O I：
10.1142/S1363919620500218
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
Basing on risk propensity and cognitive evaluation theory, this study explores the relationship between stock options and new product launch. A study based on archival data of 273 group affiliated Indian firms for 3 years demonstrates that the rate of new product introduction is a function of stock options provided to employees. Furthermore, ownership concentration of business groups and financial slack moderate this relationship.
引用
收藏
页数：21
相关论文
共 71 条
  • [1] Competition and innovation: An inverted-U relationship
    Aghion, P
    Bloom, N
    Blundell, R
    Griffith, R
    Howitt, P
    [J]. QUARTERLY JOURNAL OF ECONOMICS, 2005, 120 (02) : 701 - 728
  • [2] [Anonymous], 2010, MICROECONOMETRICS US
  • [3] Family firms in India: family involvement, innovation and agency and stewardship behaviors
    Ashwin, A. S.
    Krishnan, Rishikesha T.
    George, Rejie
    [J]. ASIA PACIFIC JOURNAL OF MANAGEMENT, 2015, 32 (04) : 869 - 900
  • [4] COGNITIVE EVALUATION THEORY - AN EXPERIMENTAL TEST OF PROCESSES AND OUTCOMES
    BOAL, KB
    CUMMINGS, LL
    [J]. ORGANIZATIONAL BEHAVIOR AND HUMAN PERFORMANCE, 1981, 28 (03): : 289 - 310
  • [5] Brinkerink J, 2017, J PROD INNOVAT MANAG, V35, P588
  • [6] The internal capital markets of business groups: Evidence from intra-group loans
    Buchuk, David
    Larrain, Borja
    Munoz, Francisco
    Urzua, Francisco, I
    [J]. JOURNAL OF FINANCIAL ECONOMICS, 2014, 112 (02) : 190 - 212
  • [7] Wedded Bliss or Tainted Love? Stock Market Reactions to the Introduction of Cobranded Products
    Cao, Zixia
    Sorescu, Alina
    [J]. MARKETING SCIENCE, 2013, 32 (06) : 939 - 959
  • [8] Perspective: New Product Failure Rates: Influence of Argumentum ad Populum and Self-Interest
    Castellion, George
    Markham, Stephen K.
    [J]. JOURNAL OF PRODUCT INNOVATION MANAGEMENT, 2013, 30 (05) : 976 - 979
  • [9] Non-executive employee stock options and corporate innovation
    Chang, Xin
    Fu, Kangkang
    Low, Angie
    Zhang, Wenrui
    [J]. JOURNAL OF FINANCIAL ECONOMICS, 2015, 115 (01) : 168 - 188
  • [10] Does Ownership Structure Matter for Firm Technological Innovation Performance? The Case of Korean Firms
    Choi, Suk Bong
    Park, Byung Il
    Hong, Paul
    [J]. CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW, 2012, 20 (03) : 267 - 288
12345678