董事会主席的饥荒经历是否阻碍了创新?

IF 9.4 3区 管理学 Q1 BUSINESS, FINANCE Journal of International Financial Management & Accounting Pub Date : 2023-02-02 DOI:10.1111/jifm.12168
Khalil Jebran, Zhen Yang, Shihua Chen, Syed Tauseef Ali
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引用次数: 0

摘要

本研究考察了董事会主席的饥荒经历是否以及如何影响其公司的创新。使用2003年至2017年期间中国企业8882个企业年度观察的样本得出的结果表明,董事会主席的饥荒经历对创新产生了负面影响。饥荒强度和高度不确定性加剧了这种负面影响。所获得的结果对替代测量、内生性问题、遗漏变量和样本选择偏差都是稳健的。进一步的分析表明,董事会主席的饥荒经历与创新之间的关系是由现金持有量和R&;D投资。总体结果有助于印记理论,解释了董事会主席早年的饥荒经历在他们之间产生了生存威胁印记,最终影响了他们以后的生活行为。研究结果还通过强调高管早年的创伤经历如何对公司业绩产生不利影响来提供启示。
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Does the famine experience of board chair hamper innovation?

This study examines whether and how the famine experiences of board chairs influence the innovation of their firms. Results using a sample comprising 8882 firm-year observations from Chinese firms during the period 2003 to 2017 reveal that the board chair's famine experience has a negative effect on innovation. This negative effect is strengthened by famine intensity and high uncertainty. The obtained results are robust to alternative measures, endogeneity issues, omitted variables, and sample selection bias. Additional analyses showed that the relationship between board chair's famine experience and innovation is mediated by cash holdings and R&D investment. The overall results contribute to imprinting theory by explaining that early-life famine experiences of board chairs create survival threat imprints among them, eventually affecting their later-life behaviors. The findings also provide implications by highlighting how the early-life traumatic experiences of executives adversely influence their firms outcomes.

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来源期刊
CiteScore
9.10
自引率
2.00%
发文量
23
期刊介绍: The Journal of International Financial Management & Accounting publishes original research dealing with international aspects of financial management and reporting, banking and financial services, auditing and taxation. Providing a forum for the interaction of ideas from both academics and practitioners, the JIFMA keeps you up-to-date with new developments and emerging trends.
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