EFFECTS OF CORPORATE AND COUNTRY GOVERNANCE ON R&D INVESTMENT: EVIDENCE FROM EMERGING MARKETS

被引：6

作者：

Hasan, Iftekhar ^{[1
,2
]}

Raymar, Steven ^{[1
]}

Song, Liang ^{[3
]}

机构：

[1] Fordham Univ, Gabelli Sch Business, New York, NY 10019 USA

[2] Bank Finland, FI-00101 Helsinki, Finland

[3] Michigan Technol Univ, Houghton, MI 49931 USA

来源：

SINGAPORE ECONOMIC REVIEW | 2015年 / 60卷 / 01期

关键词：

Corporate governance; emerging market; innovation; INNOVATION; PROTECTION; PERFORMANCE; GROWTH; POLICY; LAW;

D O I：

10.1142/S0217590815500034

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We investigate how corporate governance influences R&D across 13 emerging markets. We find that superior corporate governance increases corporate R&D spending. These results suggest that corporate governance may influence management's discretion to avoid risky innovative projects. We also find that the link between firm-level governance and corporate R&D is stronger in countries with weaker country-level governance. These results suggest substitutability between firm and country governance in generating innovation activities.

引用

页数：17

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