Does top management Team’s academic experience promote corporate innovation? Evidence from China

Huayu Shen, Fengyun Lan, Hao Xiong, Jun Lv and Jianhui Jian

Economic Modelling, 2020, vol. 89, issue C, 464-475

Abstract: This study investigates whether top management teams’ academic experience affects corporate innovation, using manually-collected data on Chinese firms from the period of 2008–2017. The results indicate that academic experience has a strong positive effect on corporate innovation. The positive effect of academic experience on corporate innovation is more pronounced, when firms grow faster or are non-state-owned. By exploring the transmission channels, the results generally show that academic experience influences corporate innovation by improving internal controls and reducing the degree of information asymmetry. These findings are among the first empirical evidence of the association between academic experience of top management teams and corporate innovation.

Keywords: Academic experience; Top management teams; Corporate innovation; Information asymmetry; Internal controls (search for similar items in EconPapers)
JEL-codes: G30 G32 G34 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:89:y:2020:i:c:p:464-475

DOI: 10.1016/j.econmod.2019.11.007

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