IDEAS home Printed from https://ideas.repec.org/a/taf/glecrv/v50y2021i4p293-309.html
   My bibliography  Save this article

Corporate Governance and the Efficiency of Government R&D Grants

Author

Listed:
  • Illoong Kwon
  • Chan-Young Park

Abstract

Using the unique grant level data, this paper shows that government R&D grants to private firms lead to more innovation when independent monitoring (e.g. outside directors) in the grant receiving firms is stronger, but to less innovation when chaebol influence (e.g. affiliated ownership) is stronger. However, the direct effect of independent monitoring on reported innovation is negative, while that of chaebol influence is positive. These results are consistent with the hypotheses that independent monitoring reduces the misuse of grant money; increases the efficiency of managing R&D grants; and reduces the overstatement of grant outcomes, while chaebol influence does the opposite.

Suggested Citation

  • Illoong Kwon & Chan-Young Park, 2021. "Corporate Governance and the Efficiency of Government R&D Grants," Global Economic Review, Taylor & Francis Journals, vol. 50(4), pages 293-309, October.
    • Handle: RePEc:taf:glecrv:v:50:y:2021:i:4:p:293-309
    DOI: 10.1080/1226508X.2021.1908156
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1226508X.2021.1908156
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/1226508X.2021.1908156?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Artur F. Tomeczek, 2023. "The rise of the chaebol: A bibliometric analysis of business groups in South Korea," Papers 2306.08743, arXiv.org.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:glecrv:v:50:y:2021:i:4:p:293-309. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RGER20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.