R&D Investment, Corporate Governance and Management Entrenchment (In French)

2010 ◽  
Author(s):  
Abderrazak Dhaoui ◽  
Fathi Jouini
Keyword(s):  
Corporate Governance ◽  
Management Entrenchment ◽  
D Investment

Corporate governance and R&D investment by European listed companies

2020 ◽  
Vol 115 ◽  
pp. 289-295 ◽  
Author(s):  
Ricardo Rodrigues ◽  
António Samagaio ◽  
Teresa Felício
Keyword(s):  
Corporate Governance ◽  
Listed Companies ◽  
D Investment

Corporate Governance and Firm Innovation

2020 ◽  
pp. 155-181
Author(s):  
Mario Ossorio
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Institutional Ownership ◽  
Board Structure ◽  
Firm Innovation ◽  
Theoretical Perspectives ◽  
Key Factor ◽  
Relevant Variables ◽  
D Investment

Innovation is a key factor for firms' competitive advantage in the long-term and for their financial success. Scholars highlight the underinvestment problem with respect of R&D investment. This chapter focuses on two relevant variables of corporate governance that influence firms' innovation performance: firm ownership and board of directors. In the first section, the effect of ownership structure on R&D investment is analyzed. More specifically, the chapter will illustrate the effects of family ownership and institutional ownership on innovation investments. The second section explores the main theoretical perspectives investigating the functions of board of directors and the main board tasks. Lastly, three attributes of board structure and their effect on R&D investments are explored.

Family Ownership, Board Independence, and R&D Investment

2009 ◽  
Vol 22 (4) ◽  
pp. 347-362 ◽  
Author(s):  
Hsiang-Lan Chen ◽  
Wen-Tsung Hsu
Keyword(s):  
Corporate Governance ◽  
Investment Decisions ◽  
Family Influence ◽  
Family Ownership ◽  
Board Independence ◽  
Independent Director ◽  
Asian Countries ◽  
Ceo Duality ◽  
D Investment

Family influence is central in Asian countries; however, little research exists regarding the effects of family ownership and corporate governance on corporate investment decisions. This article examines the relationships among family ownership, board independence, and R&D investment using a sampling of Taiwanese firms. The finding of the negative family ownership—R&D investment relationship suggests that family ownership may discourage risky long-term R&D investment. Such a finding may also suggest that firms with high family ownership may use R&D investment more efficiently and thus need less R&D in relation to firms with low family ownership. In addition, the interaction of family ownership and CEO duality/independent director ratio is negatively/positively related to R&D investment, suggesting that firms with high family ownership may increase R&D investment when the CEO—chair roles are separated or when more independent outsiders are included in the board.

Managerial ownership, audit committees and non-audit services

2020 ◽  
pp. 031289622094576
Author(s):  
Yuan George Shan ◽  
Indrit Troshani ◽  
Janice Loftus
Keyword(s):  
Corporate Governance ◽  
Audit Committee ◽  
Jel Classification ◽  
Audit Committees ◽  
Managerial Ownership ◽  
Negatively Associated ◽  
Management Ownership ◽  
Management Entrenchment ◽  
Non Audit Services

We extend prior research on corporate governance and non-audit services (NAS) by distinguishing between the management entrenchment region of management ownership and regions in which the interests of management and shareholders converge. Management entrenchment and convergence-of-interests regions were estimated for our sample of 5198 Australian firm-years. NAS is negatively (positively) associated with management ownership in the convergence-of-interests (entrenchment) regions. However, using a sub-sample based on firms that have audit committees, we find the association between NAS and management ownership is confined to the entrenchment region, while audit committee strength is negatively associated with NAS fees across all management ownership regions. JEL Classification: M42, M48

scholarly journals Equity Structure, Strategic Investment Psychology, and Performance in China’s Green Economy Context

2021 ◽  
Vol 12 ◽  
Author(s):  
Li Xin Guo ◽  
Kuen-Lin Lin ◽  
Li-Ting Zhang ◽  
Chi-Fang Liu
Keyword(s):  
Corporate Governance ◽  
Negative Impact ◽  
Positive Influence ◽  
Green Economy ◽  
High Tech ◽  
Equity Structure ◽  
Strategic Investment ◽  
Sustainability Issue ◽  
Negative Effect ◽  
D Investment

This study empirically tests the impacts of equity structure on strategic investment psychology in green affairs in R&D vs. Marketing dimensions and company performance. Based on data from Chinese high-tech industry listed companies, the empirical results show that: (1) the largest shareholder’s shareholding ratio has a positive effect on marketing investment psychology and a negative impact on R&D investment psychology, (2) other large shareholders’ shareholding ratio are positive related to R&D investment psychology; (3) R&D investment psychology has a negative effect and marketing investment psychology has a positive influence on the current performance; (4) equity counterbalance is positive related to R&D investment psychology and has a negative effect on the current performance. This study contributes to the literature of corporate governance on sustainability issue by providing a new psychological perspective. The results also provide an important guidance for the corporate governance practice in green economies.

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