Management control and innovative activity

被引：34
|
作者：
Czarnitzki, D
Kraft, K
机构：
[1] Ctr European Econ Res ZEW, D-68034 Mannheim, Germany
[2] Univ Dortmund, D-44227 Dortmund, Germany
来源：
REVIEW OF INDUSTRIAL ORGANIZATION | 2004年 / 24卷 / 01期
关键词：
censored regression models; incentives; innovative activity; managerial versus owner-led firms;
D O I：
10.1023/B:REIO.0000031361.27597.7c
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper discusses theoretically the different incentives of managers versus firm owners to invest in innovative activities. There are opposing effects concerning R&D intensity in the manager-controlled firm. Our study on the determinants of R&D intensity presents empirical results concerning this question. A sample of German firms with 4,126 observations is used to estimate Tobit and semiparametric censored least absolute deviation ( CLAD) models. It turns out that the owner-led firms invest less into R&D than the managerial firms. With respect to the manager-led firms, we have mixed results concerning the question whether expenditures on R&D depend on the control exerted.
引用
收藏
页码：1 / 24
页数：24
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