| Autor: |
Zhao, Xi, Lin, Delin |
| Předmět: |
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| Zdroj: |
Asian Journal of Technology Innovation; Dec 2021, Vol. 29 Issue 3, p325-348, 24p |
| Abstrakt: |
Do managerial equity incentives benefit or impede R&D investments? To address this question and the inconsistent empirical findings on the topic, this study investigates the relationship between equity incentives and R&D investments as well as the threshold effects of some contextual factors. Our study evidence a curvilinear inverted U-shaped relationship between equity incentives and R&D investments by using GMM system estimators for a sample of 158 Chinese firms for the 2006–2018 period. Our findings also indicated that the influence of equity incentives on R&D investments is constrained by contextual factors such as financial slack and equity concentration, suggesting that financial slack plays a double threshold effect on the above relationship, while equity concentration performed a significant single threshold effect. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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