Publication: Do the type and number of blockholders influence R&D investments? : new evidence from Spain
dc.affiliation.dpto | UC3M. Departamento de Economía de la Empresa | es |
dc.contributor.author | Tribo Gine, José Antonio | |
dc.contributor.author | Berrone, Pascual Alberto | |
dc.contributor.author | Surroca Aguilar, Jorge | |
dc.date.accessioned | 2010-04-12T09:55:17Z | |
dc.date.available | 2010-04-12T09:55:17Z | |
dc.date.issued | 2007 | |
dc.description.abstract | Using data from 3,638 Spanish firms between 1996 and 2000, this article studies the relationship between the presence of large shareholders in the ownership structure of firms and R&D investment. Consistent with our theoretical contention, our results indicate that the impact of large shareholders on the R&D investment is (1) negative when blockholders are banks, (2) positive when blockholders are non-financial corporations and (3) null when blockholders are individuals. In addition, we find a systematic negative relationship between the number of blockholders and R&D investment. Finally, we extend our study by analysing the influence that the combined effect between blockholder type and R&D investment has on the firm’s economic performance. Results of this work provide relevant implications for policy makers and academic research. | |
dc.description.status | Publicado | |
dc.format.mimetype | text/plain | |
dc.format.mimetype | application/pdf | |
dc.identifier.bibliographicCitation | Corporate Governance, 2007, v. 15, n. 5, pp. 828-842 | |
dc.identifier.doi | 10.1111/j.1467-8683.2007.00622.x | |
dc.identifier.issn | 1467-8683 | |
dc.identifier.publicationfirstpage | 828 | |
dc.identifier.publicationissue | 5 | |
dc.identifier.publicationlastpage | 842 | |
dc.identifier.publicationtitle | Corporate Governance | |
dc.identifier.publicationvolume | 15 | |
dc.identifier.uri | https://hdl.handle.net/10016/7427 | |
dc.language.iso | eng | |
dc.publisher | Wiley-Blackwell | |
dc.relation.publisherversion | http://dx.doi.org/10.1111/j.1467-8683.2007.00622.x | |
dc.rights | ©Wiley-Blackwell | |
dc.rights.accessRights | open access | |
dc.subject.eciencia | Empresa | |
dc.subject.other | Ownership structure | |
dc.subject.other | Banks | |
dc.subject.other | Institutional blockholders | |
dc.subject.other | Non-financial blockholders | |
dc.subject.other | Individual blockholders | |
dc.subject.other | R&D investment | |
dc.title | Do the type and number of blockholders influence R&D investments? : new evidence from Spain | |
dc.type | research article | * |
dc.type.review | PeerReviewed | |
dspace.entity.type | Publication |
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