. -- Familienunternehmen ; Corporate Governance ; Performance ; Innovation …Familienunternehmen gelten in der öffentlichen Wahrnehmung als besonders innovativ und als "Hidden Champions" der … unterschiedlichen Ergebnissen. Einerseits wird Familienunternehmen ein besonderer Unternehmergeist bescheinigt, der sie besonders …

We examine whether institutional investors with short-term incentives affect firms' innovation performance. We find … innovation performance, as measured by patents and citations. To address potential endogeneity, we exploit the positive liquidity … concentrated short-term investors are less likely to engage in explorative innovation. We nevertheless also find that the negative …

technological innovation. We conduct this analysis by allowing the effect to vary according to the identity of the main shareholder … concentrated corporate ownership is negatively related to technological innovation propensity, a result contrary to the “agency … largest shareholder is a family, firms are likely to have lower technological innovation propensity than firms with a foreign …

We document a positive effect of monitoring institutional ownership on firm innovation after controlling for … traditional measures of institutional ownership. We further find that monitoring institutions enhance firm innovation by: 1 …