Corporate governance, product innovation, and competition

被引：0
|
作者：
Stenbacka, Rune [1 ]
机构：
[1] Hanken Sch Econ, Dept Finance & Econ, POB 479, Helsinki 00101, Finland
来源：
BULLETIN OF ECONOMIC RESEARCH | 2022年 / 74卷 / 04期
关键词：
competition; corporate governance; innovation; stakeholder versus shareholder;
D O I：
10.1111/boer.12332
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We show that duopolistic innovation competition between identical firms may lead to an equilibrium with asymmetric corporate governance modes with one firm being shareholder oriented and its rival stakeholder oriented. This happens if the benefit associated with innovation success faced by the stakeholders falls short of an endogenously determined threshold. Above this threshold, the corporate governance equilibrium is symmetric with both firms oriented toward maximization of shareholder value.
引用
收藏
页码：1067 / 1074
页数：8
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