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- Publisher
- World Scientific Publishing Company
- Copyright
- Copyright ©
- Subject
- Innovation
- ISSN
- 0217-5908
- eISSN
- 1793-6837
- DOI
- 10.1142/S0217590815500034
- Publisher site
- See Article on Publisher Site
Abstract
We investigate how corporate governance influences R&D across 13 emerging markets. We find that superior corporate governance increases corporate R&D spending. These results suggest that corporate governance may influence management's discretion to avoid risky innovative projects. We also find that the link between firm-level governance and corporate R&D is stronger in countries with weaker country-level governance. These results suggest substitutability between firm and country governance in generating innovation activities.
Journal
The Singapore Economic Review – World Scientific Publishing Company
Published: Mar 1, 2015
Keywords: Corporate governance emerging market innovation