Corporate governance and R&D investment by European listed companies
António Samagaio and
Journal of Business Research, 2020, vol. 115, issue C, 289-295
The positive effects of R&D investment on innovation, productivity, and sustainability are well documented. However, findings regarding the impact of corporate governance on R&D investment are mixed, despite arguments supporting the role of governance mechanisms in solving agency problems. This study focuses on the relationship between governance mechanisms and R&D investment using a sample of large companies listed in European countries. The data cover the period from 2002 to 2013. These data are analyzed using an econometric panel data method and the recently developed method of panel data fuzzy-set qualitative comparative analysis. The results reveal the importance of institutional context and highlight the configurations of governance mechanisms that lead to high and low levels of R&D investment. These findings are relevant for companies aiming to adopt the most suitable governance mechanisms to pursue their R&D objectives and for policymakers interested in promoting R&D investment.
Keywords: Research and development; Corporate governance; Agency problems; Panel data; fsQCA; Listed companies (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:115:y:2020:i:c:p:289-295
Access Statistics for this article
Journal of Business Research is currently edited by A. G. Woodside
More articles in Journal of Business Research from Elsevier
Bibliographic data for series maintained by Haili He ().