Investment in R&D and Corporate Governance

The paper investigates the impact of ownership concentration on the likelihood that firms are involved in innovative activities or invest in research and development. We find that more dispersed ownership significantly increases the probability that a firm is engaged in innovation or invests in research and development. Moreover, the effect from ownership concentration is far more important for the incentive to innovate than the effect from product market concentration.

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Year of publication:	2001
Authors:	Smith, Valdemar ; Madsen, Erik Strøjer
Published in:	Vierteljahrshefte zur Wirtschaftsforschung. - Berlin : Duncker & Humblot, ISSN 1861-1559. - Vol. 70.2001, 2, p. 263-274
Publisher:	Berlin : Duncker & Humblot
Subject:	Industrieforschung \| Innovation \| Investition \| Eigentümerstruktur \| Corporate Governance \| Schätzung \| Dänemark

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.3790/vjh.70.2.263 [DOI] 820574236 [GVK] hdl:10419/99214 [Handle] RePEc:diw:diwvjh:70-20-13 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010377537