Are better-governed firms more innovative? Evidence from Korea
- 주제(키워드) Chaebol , Corporate governance , Emerging market , Firm innovation , Patent
- 등재 SSCI, SCOPUS
- 발행기관 Elsevier Inc.
- 발행년도 2020
- 총서유형 Journal
- URI http://www.dcollection.net/handler/ewha/000000168617
- 본문언어 영어
- Published As https://dx.doi.org/10.1016/j.iref.2020.05.018
- 저작권 이화여자대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
This study examines the effect of corporate governance quality on firm innovation in Korea, where innovation is very active. We focus on the relationship between a firm's corporate governance score (CGS) and its innovation performance in various empirical settings using manually collected patent data. We find that CGS positively influences firm's innovation activity, which is driven by board's quality and transparent disclosure. This relationship is more evident in chaebol-affiliated firms, suggesting that sound corporate governance is effective in promoting innovation activities when the misalignment between managers’ and other stakeholders’ interests is grave. © 2020 Elsevier Inc.
more