Employee stock ownership and corporate R&D expenditures: Evidence from Taiwan's information-technology industry

被引：38

作者：

Chen H.-L. ^{[1
,2
]}

Huang Y.-S. ^{[1
]}

机构：

[1] Department of Business Administration, National Taiwan University of Science and Technology, Taipei, 43, KeeLung Road

[2] Department of Business Administration, St. John's University, Tamsui, Taipei, 499, Tam King Road

来源：

Asia Pacific Journal of Management | 2006年 / 23卷 / 3期

关键词：

Agency theory; Employee stock ownership; R&D expenditures;

D O I：

10.1007/s10490-006-9005-4

中图分类号：

学科分类号：

摘要：

This study investigates how employee stock ownership affects corporate R&D expenditures for information-technology firms listed on the Taiwan Stock Exchange during 1996-2001. The empirical results indicate a positive association between implementing employee stock ownership and R&D expenditures. The evidence thus supports the argument that employee stock ownership could help alleviate agency conflicts between employees and shareholders, and reduce agency costs, in turn enabling firms to make sizable R&D expenditures. © Springer Science+Business Media, LLC 2006.

引用

页码：369 / 384

页数：15

共 45 条

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