haku: @author Surroca, J. / yhteensä: 4
viite: 3 / 4
| Tekijä: | Tribo, J.A. Berrone, P. Surroca, J. |
| Otsikko: | Do the type and number of blockholders influence R&D investments? New evidence from Spain |
| Lehti: | Corporate governance
2007 : SEP, VOL.15:5, p. 828-842 |
| Asiasana: | Spain banks |
| Vapaa asiasana: | ownership structure blockholders |
| Kieli: | eng |
| Tiivistelmä: | This study examines the relationship btw. the presence of large shareholders (henceforth as: s-hlds.) in the ownership structure of firms and R&D investment based on data from more than 3,600 Spanish firms from 1996 to 2000. The results indicate that the impact of large s-hlds. on the R&D investment is 1. negative when blockholders (as: b-hlds.) are banks, 2. positive when b-hlds. are non-financial corporations and 3. null when b-hlds. are individuals. In addition, a systematic negative relationship is found btw. the number of b-hlds. and R&D investment. Finally, the study is extended by analysing the influence which the combined effect btw. b-hlds. type and R&D investment has on the firm's economic performance. |
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