| Reexamining the relationship between CEO ownership and R&D investment by considering the contextual effects |
| Tác giả hoặc Nhóm tác giả: Bich-Ngoc Thi Le, Cheng-Yu Lee |
| Nơi đăng: International Journal of Business Innovation and Research; Số: 26;Từ->đến trang: 350-365;Năm: 2021 |
| Lĩnh vực: Kinh tế; Loại: Bài báo khoa học; Thể loại: Quốc tế |
| TÓM TẮT |
| Despite the agency theory prescribes risk alignment effect of
corporate governance through CEO ownership, the empirical inquiries into the
relationship between CEO ownership and corporate risk-taking thus far yielded
a mixed result. This study aims to examine the nuances of such a relationship in
the presence of financial slack and technological opportunities by contingency
models. The study employs the secondary data in a sample of S&P 1500
from 2006 to 2018. According to empirical results, this study finds that both
financial slack and technological opportunities positively moderate the CEO
ownership-R&D investment relationship. |
| ABSTRACT |
| Despite the agency theory prescribes risk alignment effect of
corporate governance through CEO ownership, the empirical inquiries into the
relationship between CEO ownership and corporate risk-taking thus far yielded
a mixed result. This study aims to examine the nuances of such a relationship in
the presence of financial slack and technological opportunities by contingency
models. The study employs the secondary data in a sample of S&P 1500
from 2006 to 2018. According to empirical results, this study finds that both
financial slack and technological opportunities positively moderate the CEO
ownership-R&D investment relationship. |
| [ 2023\2023m09d018_12_44_512020_IJBIR_30936_TAFPV.pdf ] |
