Czarnitzki, Dirk; Kraft, Kornelius - 2000
This paper discusses theoretically the different incentives of managers versus firm owners to invest in innovative … managerled firms, expenditures on R&D depend on the control exerted. If capital shares are widely dispersed and managers are thus … only controlled a little by owners, they invest more into R&D. Owner-led firms and managers who are strongly controlled …
