The paper investigate the impact of ownership concentration on the likelihood that firms are involved in innovative activities or invest in research and development. We find that more dispersed ownership significantly increase the probability that a firm is engaged in innovation or invest in research and development. Moreover, the effect from ownership concentration is fare more important for the incentive to innovate than the effect from product market concentration.
Ikke Angivet, 2001
Corporate Governance; R & D
Main Research Area:
3rd Workshop on Corporate Governance in Europe. Berlin. Proceedings. Alfred Haid (ed.), 2001