Investment in R&D and Corporate Governance | Zendy

Valdemar Smith | Zendy; Erik Strøjer Madsen | Zendy; Mogens Dilling-Hansen | Zendy

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Investment in R&D and Corporate Governance

Author(s) -

Valdemar Smith,

Erik Strøjer Madsen,

Mogens Dilling-Hansen

Publication year - 2001

Publication title -

vierteljahrshefte zur wirtschaftsforschung

Language(s) - English

Resource type - Journals

eISSN - 1861-1559

pISSN - 0340-1707

DOI - 10.3790/vjh.70.2.263

Subject(s) - incentive , corporate governance , investment (military) , business , industrial organization , product market , research development , new product development , product (mathematics) , economics , market economy , finance , marketing , political science , paleontology , test (biology) , geometry , mathematics , politics , law , biology

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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