The literature on corporate governance has highlighted the importance of board characteristics related to firm innovation. However, empirical findings have not been totally conclusive, and some seem contradictory. Adopting a new perspective, we have tried to help resolve the puzzle using a...

We investigate the influence of non-executive outside directors on firms' innovative performance for a sample of 1,393 listed firms in the EU - 15 member states plus Norway and Switzerland in the period 2005 to 2010. Our results show that the fraction of non-executive outside directors on the...

Many firms tout their commitment to diversity, sometimes appointing racial minorities to their board of directors. We find that firms with more minority directors are associated with greater innovation output. Using patent-inventor information, we uncover an important yet previously...

Previous studies on the effect of corporate governance on firm innovation shows mixed outcomes, while some reveal statistically significant effects, others show non-significant effects. Hence, this study aims at shedding more light on this unresolved phenomenon and fill this gap in literature by...

We find that classified board in the M&A target firm is positively related to the target shareholder value, but only for firms with both intensive R&D investment and strong external governance. We also find that firms with classified board exhibit superior quality innovation when they have both...

This paper studies whether board connectedness affects corporate innovation. We find that well-connected boards have a positive impact on innovation activities and quality. The effect is stronger when firms have higher advising demand or face more severe agency problems. We show that the...

We examine how friendly boards affect firm innovation. Using CEO-director social connections as a measure of board friendliness, we find that firms with friendly boards create more patents and citations. The positive relation between friendly boards and innovation are more pronounced when firms'...

Using panel data on U.S. public firms, we document a positive effect of board independence on corporate innovation. This effect is concentrated in firms that are larger in size, in the non-technical industries, facing less product market competition, and using more debt, where managers are more...

This study documents a positive and robust effect of co-opted boards on firm innovation. This effect is mainly driven by co-opted independent directors. Firms with more co-opted independent directors are associated with lower sensitivities of CEO pay-performance and turnover-performance. It...

The primary objective of the present study was to expand understanding of the determinants of adoption innovation in SME context by empirically examine the effect of corporate governance structure on manager’s innovative behavior. This was done through exploring whether ownership structure...