EFFECTS OF BOARD AND OWNERSHIP STRUCTURE ON CORPORATE R&D STRATEGY.
- 1 March 1991
- journal article
- Published by Academy of Management in The Academy of Management Journal
- Vol. 34 (1) , 205-214
- https://doi.org/10.2307/256308
Abstract
This study examined the extent to which the percentage of outside directors on a corporation’s board of directors, the concentration of equity ownership, and the roles of individual and institutional stockholders influence the company’s R&D strategy. We found that high insider representation on a board and a concentration of equity among institutional investors positively affected corporate R&D spending.Keywords
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