The Implications of Long-Term Performance Plans and Institutional Ownership for Firms' Research and Development (R&D) Investments

By L. Eng, M. Shackell. 2001

115 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/2ed2abdfcced0d6ccaa67e4ef76dcae6c0f1c2ea

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Citations in the corpus

Corporate Governance and Innovation: A Survey (2012, unknown): “For further evidence on a positive relation between institutional ownership and innovation, see Baysinger et al. (1991), Szewczyk et al. (1996) and Eng and Shackell (2001).”
Innovation and Incentives: Evidence from Corporate R&D (2007, unknown): “Josh Lerner Harvard Business School Morgan Hall, Room 395 Cambridge, MA 02163 and NBER josh@hbs.edu Julie Wulf Wharton School University of Pennsylvania 2023 Steinberg-Dietrich Hall Philadelphia, PA 19104-6370 wulf@wharton.upenn.edu”
Innovation and Institutional Ownership (2013, unknown): “For example, Francis and Smith ( 1995 ) find a positive correlation between ownership concentration ( which includes institutions and R&D expenditures, and Eng and Shackell ( 2001 ) find a positive correlation of institutions with R&D.”
Overlapping Ownership, R&D Spillovers, and Antitrust Policy (2019, unknown): “If β ′ < 1, then condition (31) holds at β′, i.”
Research and Development, Cash Flow, Agency and Governance: UK large companies (2012, result): “This limited result is consistent with Eng and Shackell (2001) and Devers et al (2000) who find an effect on CEO risk-taking but only for some forms of equity-based pay. Lhuilery (2011) using a large sample of French firms does not identify a separate compensation effect on R&D.”
The Financing of R&D and Innovation (2009, unknown): “Eng and Shackell (2001) find that firms adopting long term performance plans for their managers do not increase their R&D spending but that institutional ownership is associated with higher R&D; R&D firms tend not to be held by banks and insurance companies.”
Ownership structures and R&D in Europe: the good institutional investors, the bad and ugly impatient shareholders (2013, background): “…support the view that institutional investors take a long-term perspective and are better at monitoring and influencing firms to be more innovative (Baysinger et al., 1991; Hansen & Hill, 1991; Francis & Smith, 1995; Kochhar & David, 1996; Zahra, 1996; Eng & Shackell, 2001; Aghion et al., 2010).”
The Financing of Innovative Firms (2010, background): “Eng and Shackell (2001) find that firms adopting long-term performance plans for their managers do not increase their R&D spending but that institutional ownership is associated with higher R&D.”
The effect of institutional ownership on firm innovation: Evidence from Chinese listed firms (2017, background): “The relationship between institutional ownership and firm innovation has been examined and found to be positive by several studies on US listed firms (e.g., Francis and Smith, 1995; Bushee, 1998; Eng and Shackell, 2001; Aghion et al, 2013).”