 Does employing academic executives enhance R&D cost stickiness? Evidence from Chinese listed companiesLi Liu, Wenxiu Hu, Fangyun Wang and Li Yang Economic Modelling, 2025, vol. 145, issue C Abstract: This study investigates the existence of R&D cost stickiness and the impact of academic executives on R&D cost stickiness, a topic of widespread interest in both academia and practice. Existing literature has not reached a consensus on the existence of R&D cost stickiness, and regarding its determinants, the literature often overlooks executives' early experiences as corporate decision-makers. Using data from Chinese A-share listed companies from 2008 to 2021, we provide evidence that R&D cost stickiness exists in companies and academic executives positively affect R&D cost stickiness. Moderating mechanism analysis reveals that low internal control levels and low analyst coverage intensify the positive effect of academic executives on R&D cost stickiness. Furthermore, this positive effect is more pronounced when companies are state-owned or employ academic executives with university teaching experience. These findings offer practical insights for firms seeking to strategically allocate R&D resources and reasonably build top management teams. Keywords: Academic executives; R&D cost stickiness; Internal and external governance environments; Internal control level; Analyst coverage (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:145:y:2025:i:c:s0264999325000033 DOI: 10.1016/j.econmod.2025.107008 Access Statistics for this article Economic Modelling is currently edited by S. Hall and P. Pauly More articles in Economic Modelling from Elsevier |
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