Investment in R&D and Corporate Governance

Valdemar Smith and Erik Madsen

Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, 2001, vol. 70, issue 2, 263-274

Abstract: 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.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:diw:diwvjh:70-20-13

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Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research is currently edited by Marcel Fratzscher, Martin Gornig, Claudia Kemfert, Alexander Kritikos, Stefan Liebig, Lukas Menkhoff, Dorothea Schäfer, Bernhard Emunds, Thomas Gehrig, Horst Gischer, Hans-Helmut Kotz, Claus Michelsen, Doris Neuberger, Andreas Pfingsten and Andreas Stephan

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