Advanced Search
MyIDEAS: Login to save this paper or follow this series

The impact of corporate governance practices on R&D efforts: a look at shareholders’ rights, cross-listing and control pyramid

Contents:

Author Info

  • Stéphane Lhuillery

    ()
    (Chaire en Economie et Management de l'Innovation, Ecole Polytechnique Fédérale de Lausanne)

Registered author(s):

    Abstract

    The paper considers the impact of multiple shareholder-oriented governance practices on R&D decisions. Based on a sample of 5,713 firms belonging to 110 large French listed business groups, our results substantiate the idea that shareholder-oriented governance practices and a lower position in a control pyramid are better for R&D investment. The introduction of any additional shareholder oriented practice is found to result in more R&D. We show however that this Anglo-Americanization of the French corporate governance system is only partial. We provide evidence of the co-existence of an old French system of corporate governance with a hybrid model of corporate governance. The lack of concrete results on complementarity among shareholder oriented governance practices casts doubt on the stability of this hybrid model in the French context.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://cdm-it.epfl.ch/repec/cmi-wpaper/cemi-report-2006-006.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Ecole Polytechnique Fédérale de Lausanne, Collège du Management de la Technologie, Management of Technology and Entrepreneurship Institute, Chaire en Economie et Management de l'Innovation in its series CEMI Working Papers with number cemi-report-2006-006.

    as in new window
    Length: 25 pages
    Date of creation: Jan 2006
    Date of revision: Apr 2009
    Handle: RePEc:cmi:wpaper:cemi-report-2006-006

    Contact details of provider:
    Postal: CDM - CEMI, Odyssea, Station 5, CH - 1015 Lausanne
    Phone: +41 21 693 0036
    Fax: +41 21 693 0020
    Web page: http://cemi.epfl.ch
    More information through EDIRC

    Related research

    Keywords: Corporate governance; R&D; innovation; provisions;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:cmi:wpaper:cemi-report-2006-006. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tea Danelutti).

    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.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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