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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 …
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contrast, multiple large shareholders strengthen the inhibitory effect of non-actual controllers on corporate innovation, but … can inhibit corporate innovation by intensifying agency conflicts, reducing corporate risk-taking and strengthening … ownership and less environmental uncertainty weaken the negative effect of non-actual controllers on corporate innovation. In …
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