Corporate governance and innovationa theoretical review

  1. Asensio-López, Diego 1
  2. Cabeza-García, Laura 1
  3. González-Álvarez, Nuria 1
  1. 1 Universidad de León, España
Revista:
European journal of management and business economics

ISSN: 2444-8494 2444-8451

Año de publicación: 2019

Volumen: 28

Número: 3

Páginas: 266-284

Tipo: Artículo

DOI: 10.1108/EJMBE-05-2018-0056 DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: European journal of management and business economics

Resumen

Purpose The purpose of this paper is to present a review of the literature on two lines of research, corporate governance and innovation, explaining how different internal corporate governance mechanisms may be determinants of business innovation. Design/methodology/approach It explores the theoretical background and the empirical evidence regarding the influence of both ownership structure and the board of directors on company innovation. Then, conclusions are drawn and possible future research lines are presented. Findings No consensus was observed regarding the relation between corporate governance and innovation, with both positive and negative arguments being found, and with empirical evidence not always pointing in the same direction. Thus, new studies trying to clarify this relationship are needed. Originality/value Over recent years, interest has grown in the influence of governance mechanisms on innovation decisions taken by the management. Innovation efforts and results depend on factors that are influenced by corporate governance, such as ownership structure or the functioning of the board of directors. Thus, the paper shows an updated state of the art in this field proposing future lines for empirical research.

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