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Staggered boards, innovation, and firm life cycle
Kakhkharov, Jakhongir Milazzo, Isabella Osman, Diaeldin
Kakhkharov, Jakhongir
Milazzo, Isabella
Osman, Diaeldin
Abstract
We explore the moderating effect of firm life cycle on the relation between staggered boards (classified boards) and innovation. To examine this relationship, a panel data fixed effects model is used to account for unobserved time-invariant heterogeneity. Results indicate the presence of a staggered board in the introduction stage of firm life cycle hinders innovation leading to a decreased number of patents. The outcomes of this research enable the decision-makers of companies and regulators to make more informed decisions regarding the varying corporate governance mechanisms that may be beneficial to their set of circumstances and inform investors of the nuanced consequences of staggered boards.
Keywords
staggered boards, firm life cycle, innovation
Date
2024
Type
Journal article
Journal
Review of Pacific Basin Financial Markets and Policies
Book
Volume
27
Issue
4
Page Range
1-31
Article Number
Article 2450030
ACU Department
Peter Faber Business School
Faculty of Law and Business
Faculty of Law and Business
Collections
Relation URI
Source URL
Event URL
Open Access Status
License
All rights reserved
File Access
Controlled
Notes
© World Scientific Publishing Co. and Center for Pacific Basin Business, Economics and Finance Research.