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Article: Managerial incentives, CEO characteristics and corporate innovation in China's private sector

TitleManagerial incentives, CEO characteristics and corporate innovation in China's private sector
Authors
KeywordsCeo Characteristics
Corporate Innovation
Managerial Incentives
Issue Date2011
PublisherAcademic Press. The Journal's web site is located at http://www.elsevier.com/locate/jce
Citation
Journal Of Comparative Economics, 2011, v. 39 n. 2, p. 176-190 How to Cite?
AbstractWe use a unique World Bank survey of 1088 private manufacturing firms from 18 Chinese cities over the period 2000-2002 to empirically examine the roles of managerial incentives and CEO characteristics in a firm's innovation activities. We look at both innovation effort (R&D intensity) and innovation performance measures such as new product sales. We obtain the following main results: (1) the presence of CEO incentive schemes increases both corporate innovation effort and innovation performance; (2) sales-based performance measures in the incentive scheme, as compared with profit-based performance measure, are more conducive to firm innovation; and (3) CEO education level, professional background and political connection are positively associated with firm's innovation efforts. The main results are robust to endogeneity tests with instrumental variables. We also discuss some important policy implications. © 2010 Association for Comparative Economic Studies.
Persistent Identifierhttp://hdl.handle.net/10722/177787
ISSN
2015 Impact Factor: 1.38
2015 SCImago Journal Rankings: 1.066
SSRN
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLin, Cen_US
dc.contributor.authorLin, Pen_US
dc.contributor.authorSong, FMen_US
dc.contributor.authorLi, Cen_US
dc.date.accessioned2012-12-19T09:39:54Z-
dc.date.available2012-12-19T09:39:54Z-
dc.date.issued2011en_US
dc.identifier.citationJournal Of Comparative Economics, 2011, v. 39 n. 2, p. 176-190en_US
dc.identifier.issn0147-5967en_US
dc.identifier.urihttp://hdl.handle.net/10722/177787-
dc.description.abstractWe use a unique World Bank survey of 1088 private manufacturing firms from 18 Chinese cities over the period 2000-2002 to empirically examine the roles of managerial incentives and CEO characteristics in a firm's innovation activities. We look at both innovation effort (R&D intensity) and innovation performance measures such as new product sales. We obtain the following main results: (1) the presence of CEO incentive schemes increases both corporate innovation effort and innovation performance; (2) sales-based performance measures in the incentive scheme, as compared with profit-based performance measure, are more conducive to firm innovation; and (3) CEO education level, professional background and political connection are positively associated with firm's innovation efforts. The main results are robust to endogeneity tests with instrumental variables. We also discuss some important policy implications. © 2010 Association for Comparative Economic Studies.en_US
dc.languageengen_US
dc.publisherAcademic Press. The Journal's web site is located at http://www.elsevier.com/locate/jceen_US
dc.relation.ispartofJournal of Comparative Economicsen_US
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectCeo Characteristicsen_US
dc.subjectCorporate Innovationen_US
dc.subjectManagerial Incentivesen_US
dc.titleManagerial incentives, CEO characteristics and corporate innovation in China's private sectoren_US
dc.typeArticleen_US
dc.identifier.emailSong, FM: fmsong@hkucc.hku.hken_US
dc.identifier.authoritySong, FM=rp01095en_US
dc.description.naturepostprinten_US
dc.identifier.doi10.1016/j.jce.2009.12.001en_US
dc.identifier.scopuseid_2-s2.0-79957632087en_US
dc.identifier.hkuros176918-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-79957632087&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume39en_US
dc.identifier.issue2en_US
dc.identifier.spage176en_US
dc.identifier.epage190en_US
dc.identifier.eissn1095-7227-
dc.identifier.isiWOS:000292366300004-
dc.publisher.placeUnited Statesen_US
dc.identifier.ssrn1524023-
dc.identifier.scopusauthoridLin, C=25630694300en_US
dc.identifier.scopusauthoridLin, P=7403225546en_US
dc.identifier.scopusauthoridSong, FM=7203075605en_US
dc.identifier.scopusauthoridLi, C=36449097300en_US
dc.identifier.citeulike6410029-

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