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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