improving efficiency. -- Process innovation ; managerial incentives ; efficiency ; natural experiment …

This paper provides highly significant evidence that golden parachutes spur innovation in concentrated … lead to higher levels of innovation quantity and quality through a risk-taking mechanism. The positive effects of … parachutes on innovation are more pronounced when ownership concentration increases for SOEs, as well as when ownership …

We examine the impact of financial reporting on corporate innovation. We find that firms that exhibit more conservative … effects of conservative financial reporting on innovation are more pronounced when firms have greater need for innovation …, when the product development cycle is longer, or when managers are more myopic. Overall, our findings suggest that …

governance policies, such as managerial pay, and curbing competition. We study a model where managers can exert unobservable cost …