Investment in R&D and corporate governance

by Valdemar Smith, Erik Strøjer Madsen and Mogens Dilling-Hansen

The paper investigates the impact of ownership concentration on the likelihood that firms are involved in innovative activities or invest in research and development. We find that more dispersed ownership significantly increases the probability that a firm is engaged in innovation or invests in research and development. Moreover, the effect from ownership concentration is far more important for the incentive to innovate than the effect from product market concentration.

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Year of publication:	2001
Authors:	Smith, Valdemar ; Strøjer Madsen, Erik ; Dilling-Hansen, Mogens
Other Persons:	Odagiri, Hiroyuki (contributor)
Published in:	Vierteljahrshefte zur Wirtschaftsforschung. - Berlin : Duncker & Humblot, ISSN 1861-1559, ZDB-ID 2096606-4. - Vol. 70.2001, 2, p. 263-274
Subject:	Corporate Governance \| Corporate governance \| Investition \| Investment \| Theorie \| Theory \| Investitionsentscheidung \| Investment decision

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Extent:	graph. Darst.
Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Notes:	Kommentar S. 274 / by Hiroyuki Odagiri Systemvoraussetzung: Acrobat Reader
Other identifiers:	10.3790/vjh.70.2.263 [DOI] hdl:10419/99214 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010493786