Year: 2017
Type: article
Abstract: This study investigates whether the education level of a firm's directors significantly influences R&D investment, dependent on the moderating effects of institutional ownership, family involvement and control type. Based on a longitudinal sample of 437 Taiwanese listed firms over the period 2006–2012, we conclude that the education of directors does affect on a firm's R&D investment, and suggest that higher education of directors leads a firm to invest more in R&D. Moreover, internal corporate governance plays a moderating role in the relation between education of directors and R&D investment. Professional management strengthens the positive effect of education of directors on R&D investment, but institutional ownership or family involvement undermines this relationship. Finally, this study further reveals that cross-sectional heterogeneity in R&D investment depends on industry and control type.
Source: Asia Pacific Management Review
Authors: Hsien-Chang Kuo, Lie-Huey Wang, Li-Jen Yeh
Institutions: Shih Chien University, Ming Chuan University
Language: English
Subfield: Accounting
Domain: Social Sciences
SDG: Quality education
Open Access status: hybrid
Estimated APC paid: $2,000
Award: G2215201822
OpenAlex ID: W2625697409