Board independence and innovation

Detalhes bibliográficos
Autor(a) principal: Coelho, Mariana Campos Carvalho
Data de Publicação: 2015
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/15344
Resumo: Legislation introduced in the U.S. in 2002/2003 significantly changed board composition of public firms by imposing a 50% independent directors’ ratio. Research on the effect of independent directors is not consensual, implying that this exogenous shock is a unique opportunity to study their importance. This study answers the question of whether or not independent directors can effectively mitigate agency conflicts between shareholders and the management, having a positive impact on the choice of successful R&D projects. We find that an increase of board independence has a positive impact on patent counts. Hence, the results support that independent directors truly spur innovation and risk taking.
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spelling Board independence and innovationInnovationCorporate governanceBoard independencePatentsLegislation introduced in the U.S. in 2002/2003 significantly changed board composition of public firms by imposing a 50% independent directors’ ratio. Research on the effect of independent directors is not consensual, implying that this exogenous shock is a unique opportunity to study their importance. This study answers the question of whether or not independent directors can effectively mitigate agency conflicts between shareholders and the management, having a positive impact on the choice of successful R&D projects. We find that an increase of board independence has a positive impact on patent counts. Hence, the results support that independent directors truly spur innovation and risk taking.UNL - NSBEFerreira, MiguelRUNCoelho, Mariana Campos Carvalho2015-08-25T09:43:18Z2015-012015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/15344TID:201476568enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T03:51:15Zoai:run.unl.pt:10362/15344Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:22:27.802230Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Board independence and innovation
title Board independence and innovation
spellingShingle Board independence and innovation
Coelho, Mariana Campos Carvalho
Innovation
Corporate governance
Board independence
Patents
title_short Board independence and innovation
title_full Board independence and innovation
title_fullStr Board independence and innovation
title_full_unstemmed Board independence and innovation
title_sort Board independence and innovation
author Coelho, Mariana Campos Carvalho
author_facet Coelho, Mariana Campos Carvalho
author_role author
dc.contributor.none.fl_str_mv Ferreira, Miguel
RUN
dc.contributor.author.fl_str_mv Coelho, Mariana Campos Carvalho
dc.subject.por.fl_str_mv Innovation
Corporate governance
Board independence
Patents
topic Innovation
Corporate governance
Board independence
Patents
description Legislation introduced in the U.S. in 2002/2003 significantly changed board composition of public firms by imposing a 50% independent directors’ ratio. Research on the effect of independent directors is not consensual, implying that this exogenous shock is a unique opportunity to study their importance. This study answers the question of whether or not independent directors can effectively mitigate agency conflicts between shareholders and the management, having a positive impact on the choice of successful R&D projects. We find that an increase of board independence has a positive impact on patent counts. Hence, the results support that independent directors truly spur innovation and risk taking.
publishDate 2015
dc.date.none.fl_str_mv 2015-08-25T09:43:18Z
2015-01
2015-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/15344
TID:201476568
url http://hdl.handle.net/10362/15344
identifier_str_mv TID:201476568
dc.language.iso.fl_str_mv eng
language eng
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