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- W3149211180 abstract "This study documents a positive and robust effect of co-opted boards on firm innovation. This effect is mainly driven by co-opted independent directors. Firms with more co-opted independent directors are associated with lower sensitivities of CEO pay-performance and turnover-performance. It suggests that co-opted boards promote innovation by insulating managers’ career concerns from innovation risk and supporting incentive contracts that motivate innovation. Overall, our study provides new evidence on co-opted boards benefiting firm innovation." @default.
- W3149211180 created "2021-04-13" @default.
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- W3149211180 date "2020-01-01" @default.
- W3149211180 modified "2023-09-23" @default.
- W3149211180 title "The Bright Side of Co-Opted Boards: Evidence from Firm Innovation" @default.
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