How do ownership concentration and family control affect R&D investments? New evidence from Taiwan

Irene, Wei Kiong Ting and Lo, Huai-Chun and Kweh, Qian Long (2018) How do ownership concentration and family control affect R&D investments? New evidence from Taiwan. International Review of Finance. pp. 1-17. ISSN 1468-2443. (In Press / Online First) (In Press / Online First)

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Abstract

This study finds a nonlinear relationship between ownership concentration and R&D investments. Specifically, ownership concentration is positively related to R&D investments at a low level of ownership concentration; the relationship becomes negative when ownership concentration is at a high level. However, the impact of ownership concentration on R&D investments is lessened in family-controlled firms; that is, family control moderates the relationship between ownership concentration and R&D investments. Overall, this study suggests that the ownership concentration’s nonlinear impact on R&D investments differs between family-controlled firms and non-family-controlled firms.

Item Type: Article
Additional Information: Impact factor:0.633 ISI Journal Citation Reports © Ranking: 2017:81/98 (Business, Finance)
Uncontrolled Keywords: R&D Investments; ownership concentration
Subjects: H Social Sciences > HG Finance
Faculty/Division: Faculty of Industrial Management
Depositing User: Dr. Irene Ting Wei Kiong
Date Deposited: 28 Dec 2018 01:56
Last Modified: 29 Mar 2022 03:50
URI: http://umpir.ump.edu.my/id/eprint/23340
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