Using quantile regression, our results provide explanations for the inconsistent findings that use conventional OLS regression in the extant literature. While the direct effects of RD while firms' advantages with low RD whereas it is decreasing in high Q firms. Main banks add value for low to...

This study investigates how a firm’s debt structure and the presence of keiretsu main bank relationship conjointly shape a firm’s innovation in Japan. Using a 2SLS regression in which corporate debt structure is endogenous, we find that public debt fosters innovation, and bank debt destroys...

This work investigates the relationships between institutional ownership, board diversity, and corporate innovation in US-listed firms. Institutional investors play a crucial role in a firm’s operation and exert considerable influence on the efficient monitoring of innovative investment....