Exploring the Link Between Corporate Governance and R&D Investments on Brazilian Listed Companies

Author:

da Silva Teixeira Yago1,da Silva Santos Lívia Maria1ORCID,de Macena Araújo Risolene Alves2ORCID,Silva Adriana Rodrigues3ORCID

Affiliation:

1. Federal University of Rondônia, Brazil

2. Federal University of Pará, Brazil

3. Polytechnic Institute of Santarém, Portugal & CICF-Research Centre on Accounting and Taxation, Portugal

Abstract

Research and development (R&D) are an important issue for companies in a wide range of sectors, as they generate innovation, productivity, and sustainability, which are important factors for competitive advantage. To analyze which corporate governance mechanisms influence R&D investment by B3-listed companies, a fixed effects panel regression analysis was performed from 2010 to 2020. From a universe of 477 companies, a sample of 61 companies that spent at least one year on R&D was drawn. The results show that despite the hypotheses that board independence, ownership concentration, and CEO duality have no positive or negative effect on R&D spending, rejecting the latter hypotheses leads to a negative relationship between the first two factors and R&D spending. Therefore, it can be concluded that some corporate governance mechanisms can explain organizational investment in research and development.

Publisher

IGI Global

Reference49 articles.

1. Corporate governance mechanisms and R&D intensity in OECD courtiers.;A.AlHares;Corporate Governance (Bradford),2020

2. Corporate governance and innovation: A theoretical review.;D.Asensio-López;European Journal of Management and Business Economics,2019

3. Institucional. (2022). Uma das principais empresas de infraestrutura de mercado financeiro do mundo. Disponível em: < https://www.b3.com.br/pt_br/b3/institucional/quem-somos/>. Acesso em: 7 Ago. 2022.

4. The composition of boards of directors and strategic control: Effects on corporate strategy.;B.Baysinger;Academy of Management Review,1990

5. Effects of board and ownership structure on corporate R&D strategy.;B. D.Baysinger;Academy of Management Journal,1991

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3