Using panel data on U.S. public firms, we document a positive effect of board independence on corporate innovation … competition, and using more debt, where managers are more likely to be excessively risk averse. We establish causality of board … independence on innovation using a difference-in-difference approach that exploits an exogenous shock to board composition, namely …

Whether a manager leads the innovation efforts of a firm in line with shareholder preferences has a substantial impact … general equilibrium model of firm-level innovation with agency frictions and endogenous determination of executive contracts … leads to more incentivized contracts and boosts innovation, with substantial benefits for the shareholders as well as the …

number of citations to patents. Thus managers who are protected from takeover market perform worse on innovation. However … innovation. Empirical results indicate that an increase in antitakeover provisions is negatively related to number of patents and …, the negative relation between antitakeover provisions and firm innovation holds only for low-tech firms. For high …