The Influence of CEO Characteristics on Firm Innovation

This study analyses the influence of CEO characteristics on firm innovation in Australia. Firm R&D expenditure is used as a measurement of innovation in panel and Tobit regression models to estimate managerial effects. Endogeneity effects are also considered. By analysising the association between CEO characteristics and R&D expenditure at the industry level, our results demonstrate that CEO gender and CEO educational level have stronger impacts on R&D expenditure innovation (especially in specific industries) compared to firms that have CEO-chairman duality and CEO location. These findings have important implications for gender diversity, firms in different industries that are willing to promote competitiveness and performance of firms through R&D activities