Board Characteristics and Firm Innovation: Perspectives on Family Enterprises
學年 114
學期 1
出版（發表）日期 2025-12-31
作品名稱 Board Characteristics and Firm Innovation: Perspectives on Family Enterprises
作品名稱（其他語言）
著者 Wei-Ting Chen; Chuan-Yu Hou; Chen-Hui, Chen; Shi-Yu Chen
單位
出版者
著錄名稱、卷期、頁數 Journal of Accounting, Finance & Management Strategy 20, p. 1-28
摘要 To achieve sustainable long-term growth, firms frequently allocate substantial resources to research and development (R&D) to foster innovation and maintain a competitive edge. In family-owned businesses, where ownership and management are often intertwined, the board of directors plays a pivotal role in shaping strategic innovation decisions and ensuring effective governance. This study investigates the influence of board characteristics on corporate innovation by analyzing panel data from publicly listed firms in Taiwan between 2012 and 2021, with a comparative perspective on family versus non-family enterprises. The empirical results reveal significant differences in governance mechanisms and their effects on innovation outcomes. Specifically, in family firms, variables such as board meeting frequency, firm size, and debt ratio are positively correlated with innovation intensity, while a higher proportion of independent directors and elevated free cash flow levels are negatively associated. Furthermore, corporate governance mechanisms are found to moderate the relationship between board attributes and innovation performance. These findings underscore the importance of context-specific governance practices and suggest that tailored board structures can serve as strategic levers to enhance innovation, particularly in the unique organizational and cultural environment of family-controlled firms.
關鍵字
語言 en
ISSN 1556-5793
期刊性質 國內
收錄於 EconLit
產學合作
通訊作者
審稿制度 是
國別 TWN
公開徵稿
出版型式 ,電子版
相關連結

機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/129969 )