Do tenure and age of board chair matter for R&D investment?
نویسندگان
چکیده
Purpose This study aims to examine whether the age and tenure of chair board directors are related research development (R&D) investment in China. Design/methodology/approach uses A-share manufacturing firms that traded on Shanghai Shenzhen stock exchange between 2009 2018. OLS regressions, controls for self-selection bias, an instrumental variable alleviate concern endogeneity. Findings finds has a negative relationship with R&D investment. does not find significant Originality/value contributes corporate governance strategic management literature by highlighting as new factor affecting investments. It also adds contribution limited chair’s role decisions. Moreover, companies eager strengthen maintain sustained innovation may reconsider tenure. Given many proposals reform explicitly stress importance limiting tenure, this policymakers providing evidence support these proposals.
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ژورنال
عنوان ژورنال: Journal of Financial Reporting and Accounting
سال: 2022
ISSN: ['2042-5856', '1985-2517']
DOI: https://doi.org/10.1108/jfra-01-2022-0023