more sensitive to the firm's stock price the innovation performance of a firm improves. Entrenched managers, however, are …This paper investigates whether aligning manager and owner incentives can improve the innovation performance of firms …-term incentives have little impact on innovation. Higher managerial tenure increases the probability of R&D spending and innovation …

innovation. However, these estimates suffer from two data problems. First, corporate innovation data have a discrete spike at … zero because many firms never engage in corporate innovation. Second, univariate outliers are common in our data. This … find a positive relation between corporate innovation and vega (sensitivity of CEO wealth to stock volatility) only through …

to apply high-dimensional graphical models in innovation studies,since the increasing availability of data in the field …

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 …

levels of managerial effort and innovation, respectively. The optimal executive compensation structure is shown to depend on … efficient investment policy involves high innovation, highlighting the role played by the delegation of investment decisions in …

This study examined the influence of managerial ability on corporate innovation performance. Our findings suggest that … higher levels of managerial ability significantly enhance an enterprise's innovation performance, while managerial risk … taking has the potential to not only inhibit the advancement of innovation performance, but also obscure the positive effects …

fundamental value of the innovation: is it strong or fragile? Second, it is difficult to monitor managers, which creates moral … hazard. Because of moral hazard, managers earn agency rents in equilibrium. As time goes by and profits are observed, beliefs … increasingly confident managers end up requesting very large rents, which curb the growth of the speculative sector. If rents …