What determines firms' R&D intensity in business groups with cross-ownership structures?

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dc.contributor.authorSung, Taeyoonko
dc.contributor.authorLee, Chang-Yangko
dc.contributor.authorAhn, Hyeonmiko
dc.date.accessioned2017-07-18T06:33:05Z-
dc.date.available2017-07-18T06:33:05Z-
dc.date.created2017-07-10-
dc.date.created2017-07-10-
dc.date.issued2017-
dc.identifier.citationINDUSTRY AND INNOVATION, v.24, no.6, pp.633 - 658-
dc.identifier.issn1366-2716-
dc.identifier.urihttp://hdl.handle.net/10203/224908-
dc.description.abstractThis paper examines the impact of group-controlling shareholders' interests on the R&D decision of group-affiliated firms in business groups with cross-ownership structures, especially with regard to the impact of control-ownership disparities or cash-flow rights. We show that R&D intensity across group-affiliated firms, in business groups with cross-ownership structures, is higher when control-ownership disparities are low or when group-controlling shareholders have higher cash-flow rights. Particularly in publicly listed firms, we find that the cash-flow rights of group-controlling shareholders are one of the most important determinants of the R&D intensity for group-affiliated firms.-
dc.languageEnglish-
dc.publisherROUTLEDGE JOURNALS-
dc.subjectASIAN FINANCIAL CRISIS-
dc.subjectCORPORATE GOVERNANCE-
dc.subjectEMERGING MARKETS-
dc.subjectLEVERAGED RECAPITALIZATIONS-
dc.subjectSTRUCTURE MATTER-
dc.subjectCAPITAL-MARKETS-
dc.subjectPANEL DATA-
dc.subject2 FACES-
dc.subjectPERFORMANCE-
dc.subjectINVESTMENT-
dc.titleWhat determines firms' R&D intensity in business groups with cross-ownership structures?-
dc.typeArticle-
dc.identifier.wosid000403933100003-
dc.identifier.scopusid2-s2.0-85002262386-
dc.type.rimsART-
dc.citation.volume24-
dc.citation.issue6-
dc.citation.beginningpage633-
dc.citation.endingpage658-
dc.citation.publicationnameINDUSTRY AND INNOVATION-
dc.identifier.doi10.1080/13662716.2016.1261694-
dc.contributor.localauthorLee, Chang-Yang-
dc.contributor.nonIdAuthorSung, Taeyoon-
dc.contributor.nonIdAuthorAhn, Hyeonmi-
dc.description.isOpenAccessN-
dc.type.journalArticleArticle-
dc.subject.keywordAuthorR&amp-
dc.subject.keywordAuthorD intensity-
dc.subject.keywordAuthorbusiness group-
dc.subject.keywordAuthorcontrolling shareholder-
dc.subject.keywordAuthorcash-flow right-
dc.subject.keywordAuthorcontrol-ownership disparity-
dc.subject.keywordAuthorG3-
dc.subject.keywordAuthorL2-
dc.subject.keywordAuthorO3-
dc.subject.keywordPlusASIAN FINANCIAL CRISIS-
dc.subject.keywordPlusCORPORATE GOVERNANCE-
dc.subject.keywordPlusEMERGING MARKETS-
dc.subject.keywordPlusLEVERAGED RECAPITALIZATIONS-
dc.subject.keywordPlusSTRUCTURE MATTER-
dc.subject.keywordPlusCAPITAL-MARKETS-
dc.subject.keywordPlusPANEL DATA-
dc.subject.keywordPlus2 FACES-
dc.subject.keywordPlusPERFORMANCE-
dc.subject.keywordPlusINVESTMENT-
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