Board reforms and innovation

被引：3

作者：

Ahmad, Muhammad Farooq ^{[1
]}

Aziz, Saqib ^{[2
]}

Dowling, Michael ^{[3
]}

Kowalewski, Oskar ^{[4
,5
,6
]}

机构：

[1] Univ Cote Azur, SKEMA Business Sch, Nice, France

[2] Rennes Sch Business, Rennes, France

[3] Dublin City Univ, DCU Business Sch, Dublin, Ireland

[4] LEM Lille Econ Management, IESEG Sch Management, UMR 9221, F-59000 Lille, France

[5] Univ Lille, UMR 9221, LEM Lille Econ Management, F-59000 Lille, France

[6] CNRS, UMR 9221, LEM Lille Econ Management, F-59000 Lille, France

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2023年 / 88卷

关键词：

Corporate governance; Board reforms; Corporate law; Innovation; Research and development; RESEARCH-AND-DEVELOPMENT; CORPORATE GOVERNANCE PRACTICES; DEVELOPMENT INVESTMENTS; AGENCY COSTS; PERFORMANCE; INDUSTRY; STRATEGY; IMPACT; CEOS;

D O I：

10.1016/j.irfa.2023.102707

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We study the effect of board reforms on firms' research and development (R & D) investments utilizing a sample of 41 countries. Using a difference-in-differences analysis, we find that firms invest more in R & D following corporate governance reforms. Of these, two legal reforms - having an independent audit committee and board independence - have a greater impact on R & D investment. Additionally, we show that board reforms have a more pronounced effect on R & D investment in hi-tech industries and the health sector.

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页数：10

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