Fiche du document
1 janvier 2018
- handle: 10670/1.exeadl
- halshs: halshs-01248723
- doi: 10.1093/icc/dtx031
Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.1093/icc/dtx031
Mots-clés
Corporate governance Innovation L - Industrial Organization/L.L1 - Market Structure, Firm Strategy, and Market Performance/L.L1.L10 - General L - Industrial Organization/L.L2 - Firm Objectives, Organization, and Behavior/L.L2.L20 - General G - Financial Economics/G.G3 - Corporate Finance and Governance/G.G3.G30 - General O - Economic Development, Innovation, Technological Change, and Growth/O.O3 - Innovation • Research and Development • Technological Change • Intellectual Property Rights/O.O3.O33 - Technological Change: Choices and Consequences • Diffusion ProcessesSujets proches
Businesses Firms Companies Enterprises Business organizations Organizations, BusinessCiter ce document
Stefano Bianchini et al., « Corporate governance and innovation : does firm age matter? », HAL-SHS : économie et finance, ID : 10.1093/icc/dtx031
Métriques
Partage / Export
Résumé
This article investigates the relationship between corporate governance (CG) and innovation for firms of different ages. We blend data drawn from the ISS RiskMetrics and the Bureau van Dijk Orbis databases to perform micro-econometric analyses on a sample of 2200 listed firms. We show that CG may decrease research and development for all firms and that, more importantly, it has a significant and negative effect on the patenting strategy of the younger firms. Our results are consistent with the CG life cycle view, according to which young companies tend to privilege short-termism and value preservation rather than long-term risky innovation strategies. What shown and discussed in this contribution supports the proposition that firm age matters in how CG may alter innovation.