Unternehmensleitung und Innovationserfolg / Corporate Management and Innovation

Dirk Czarnitzki and Kornelius Kraft

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2003, vol. 223, issue 6, 641-658

Abstract: This article compares the innovative activity of managerial and owner-led firms. The incentives to innovate for managers depend on a trade-off: While the risk associated with innovative activities is a negative stimulus, the possible sales growth in case of success is a positive incentive. In light of this conflicting incentives, we investigate empirically whether firms led by owners or by managers are more innovative. By use of a sample of 2,018 observations at the firm level we show that owner-led firms achieve less sales with new products than others.

Keywords: Innovation; manager-versus owner-led firms; incentives; tobit regressions; Innovationen; Manager- vs. eignergeleitete Firmen; Anreize; Tobit Regression; Innovation; manager-versus owner-led firms; incentives; tobit regressions (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:223:y:2003:i:6:p:641-659

DOI: 10.1515/jbnst-2003-0602

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