Management Control and Innovative Activity

This paper discusses theoretically the different incentives of managers versus firm owners to invest in innovative activities. There are opposing effects concerning R&D intensity in the manager-controlled firm. Our study on the determinants of R&D intensity presents empirical results concerning this question. A sample of German firms with 4,126 observations is used to estimate Tobit and semi-parametric censored least absolute deviation (CLAD) models. It turns out that the owner-led firms invest less into R&D than the managerial firms. With respect to the manager-led firms, we have mixed results concerning the question whether expenditures on R&D depend on the control exerted

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Year of publication:	2015
Authors:	Czarnitzki, Dirk ; Kraft, Kornelius
Publisher:	[S.l.] : SSRN
Subject:	Innovation \| Industrieforschung \| Industrial research \| Corporate Governance \| Corporate governance \| Eigentümerstruktur \| Ownership structure \| Deutschland \| Germany \| Investition \| Investment \| Schätzung \| Estimation \| Controlling \| Management control
Description of contents:	Abstract [papers.ssrn.com]

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Review of Industrial Organization, Vol. 24, No. 1, pp. 1-24 Volltext nicht verfügbar
Classification:	C14 - Semiparametric and Nonparametric Methods ; C24 - Truncated and Censored Models ; D21 - Firm Behavior ; O31 - Innovation and Invention: Processes and Incentives ; O32 - Management of Technological Innovation and R&D
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014028542