Founder-Controlled Firms and R&D Investments: New Evidence From Canada

被引：21

作者：

Bozec, Yves ^{[1
]}

Di Vito, Jackie ^{[2
]}

机构：

[1] HEC Montreal, Accounting, 3000 Chemin Cote St Catherine, Montreal, PQ H3T 2A7, Canada

[2] HEC Montreal, 3000 Chemin Cote St Catherine, Montreal, PQ H3T 2A7, Canada

来源：

FAMILY BUSINESS REVIEW | 2019年 / 32卷 / 01期

关键词：

ownership; excess voting rights; family; founder; R&D; LONG-TERM ORIENTATION; CORPORATE GOVERNANCE; FAMILY OWNERSHIP; SOCIOEMOTIONAL WEALTH; AGENCY COSTS; PERFORMANCE; BEHAVIOR; IDENTITY; IMPACT; ENTRENCHMENT;

D O I：

10.1177/0894486518793237

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Our study investigates the R&D investment behavior of founder-controlled Canadian listed firms. We use De Massis et al.'s model of the sufficiency conditions of ability and willingness and adapt it to predict investments in R&D. As founder-controlled firms are heterogeneous in nature, we distinguish four categories: lone founder firms and family founder firms with and without excess voting rights. In line with our predictions, we find that only lone founder firms without excess voting rights have both the ability and the willingness to invest in R&D and so they invest more in R&D than their counterparts.

引用

页码：76 / 96

页数：21

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