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- W4255173857 abstract "Little attention has been devoted to the impact of corporate governance practices on firms’ innovative performance. This chapter reviews the literature to show that there is theoretical ambiguity. There is the argument that corporate governance and new forms of finance realign managers’ interests, with greater efficiency for all types of investments. However, some argue that innovative R&D has distinctive characteristics, like high risk and long-term horizon, that may modify the efficiency effect. The issue has generated many studies where the long tradition of positive relationships between governance and efficiency is now contrasted by some recent empirical evidence suggesting a negative relationship. The chapter argues that shareholder primacy or owner activism in corporate governance and new forms of finance represent a potential mismatch with innovation." @default.
- W4255173857 created "2022-05-12" @default.
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- W4255173857 date "2018-07-19" @default.
- W4255173857 modified "2023-09-23" @default.
- W4255173857 title "Corporate Governance" @default.
- W4255173857 doi "https://doi.org/10.1093/oso/9780198805274.003.0008" @default.
- W4255173857 hasPublicationYear "2018" @default.
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