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Impact of prestigious-STEM Education of corporate board members on innovation effort: Evidence from India

Author

Listed:
  • Kaushik, Rituparna
  • Paul, Sourabh Bikas
  • Sartorello Spinola, Danilo

    (RS: UNU-MERIT)

Abstract

This article studies the innovation effort in India through the education of corporate board members obtained from prestigious STEM higher education institutes known as the Indian Institute of Technology (IITs). Our primary aim is to enquire whether firms with director/s having an IIT-Bachelors’ degree in their corporate boards positively impact the firm’s innovation effort. To answer this question, we build a novel dataset merging two micro-level databases: CMIE-Prowess (firm innovation) and NSE-Infobase (board of directors' characteristics). Based on the sample of 6151 Indian firms for 2006-2015, we find that overall, having board members with IIT-Bachelor’s qualifications do enhance innovation efforts to some extent. However, the positive effect on innovation effort becomes more robust when the director has a research degree over their IIT- Bachelors’ degree. The paper highlights that when it comes to innovation efforts, the dominant narrative of relying solely on IIT-STE M elite undergraduate education (IIT-Bachelor’s) is insufficient and should also focus on and prioritize research education.

Suggested Citation

  • Kaushik, Rituparna & Paul, Sourabh Bikas & Sartorello Spinola, Danilo, 2023. "Impact of prestigious-STEM Education of corporate board members on innovation effort: Evidence from India," MERIT Working Papers 2023-014, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    • Handle: RePEc:unm:unumer:2023014
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    More about this item

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions

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