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@inproceedings{1360361,
author = {Janošová, Lenka and Jirásek, Michal},
address = {Reading},
booktitle = {Proceedings of the 5th International Conference on Management, Leadership and Governance (ICMLG 2017)},
keywords = {behavioral theory of the firm; performance feedback; R&D; board characteristics},
howpublished = {tištěná verze "print"},
language = {eng},
location = {Reading},
isbn = {978-1-911218-27-2},
pages = {487-494},
publisher = {Academic Conferences and Publishing International Limited},
title = {R&D investment under the influence of board characteristics and performance feedback},
year = {2017}
}
TY - JOUR
ID - 1360361
AU - Janošová, Lenka - Jirásek, Michal
PY - 2017
TI - R&D investment under the influence of board characteristics and performance feedback
PB - Academic Conferences and Publishing International Limited
CY - Reading
SN - 9781911218272
KW - behavioral theory of the firm
KW - performance feedback
KW - R&D
KW - board characteristics
N2 - Performance feedback process assumed by the behavioral theory of the firm has been studied in numerous studies and its influence on firms’ R&D expenditures has been confirmed. It supposes that a firm pays attention to certain aspiration levels – comprising a firm historical performance and performance of its peers. When this level is not attained, a firm is motivated towards change, which is often translated as an increase in R&D spending. However, performance feedback is clearly not the only one of the possible factors affecting firms’ short term behavior. In this paper, it is argued that board characteristics – notably board size, age of its members and board turnover – and their changes can influence yearly differences in R&D spending as well. This paper studies joint influence of performance feedback process and board characteristics on a sample of large German industrial firms listed on exchange markets.
ER -
JANOŠOVÁ, Lenka a Michal JIRÁSEK. R\&{}D investment under the influence of board characteristics and performance feedback. In \textit{Proceedings of the 5th International Conference on Management, Leadership and Governance (ICMLG 2017)}. Reading: Academic Conferences and Publishing International Limited, 2017, s.~487-494. ISBN~978-1-911218-27-2.
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