Corporate governance and R&D investment by European listed companies

被引：59
|
作者：
Rodrigues, Ricardo [1 ]
Samagaio, Antonio [2 ]
Felicio, Teresa [2 ]
机构：
[1] Univ Lisbon, ISEG, Lisbon Sch Econ & Management, CEGE,Ctr Management Studies, Lisbon, Portugal
[2] Univ Lisbon, ISEG, Lisbon Sch Econ & Management, Lisbon, Portugal
来源：
JOURNAL OF BUSINESS RESEARCH | 2020年 / 115卷
关键词：
Research and development; Corporate governance; Agency problems; Panel data; fsQCA; Listed companies; TOP MANAGEMENT TEAM; DEVELOPMENT INTENSITY; EARNINGS MANAGEMENT; BOARD INDEPENDENCE; AGENCY COSTS; CASH FLOW; OWNERSHIP; IMPACT; RISK; FIRM;
D O I：
10.1016/j.jbusres.2019.11.070
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The positive effects of R&D investment on innovation, productivity, and sustainability are well documented. However, findings regarding the impact of corporate governance on R&D investment are mixed, despite arguments supporting the role of governance mechanisms in solving agency problems. This study focuses on the relationship between governance mechanisms and R&D investment using a sample of large companies listed in European countries. The data cover the period from 2002 to 2013. These data are analyzed using an econometric panel data method and the recently developed method of panel data fuzzy-set qualitative comparative analysis. The results reveal the importance of institutional context and highlight the configurations of governance mechanisms that lead to high and low levels of R&D investment. These findings are relevant for companies aiming to adopt the most suitable governance mechanisms to pursue their R&D objectives and for policymakers interested in promoting R&D investment.
引用
收藏
页码：289 / 295
页数：7
相关论文
共 50 条
12345