Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/327175 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Innovation & Knowledge (JIK) [ISSN:] 2444-569X [Volume:] 7 [Issue:] 3 [Article No.:] 100205 [Year:] 2022 [Pages:] 1-11
Publisher: 
Elsevier, Amsterdam
Abstract: 
This study explores the relationship between the takeover market and enterprise innovation. We also investigate the mediating role of internal governance (managers' compensation incentives, equity incentives, boards of directors, and large shareholders) on the relationship between the takeover market and enterprise innovation. We use comprehensive panel data of 1307 firms listed on the Shenzhen and Shanghai stock exchanges for 2006-2016 to meet the study's objectives. We find that the takeover market positively and significantly influences corporate innovation. It improves corporate innovation ability by increasing managers' compensation incentives. However, enterprise innovation ability decreases with an increase in managers' equity incentives, large shareholders, and the board of directors. Finally, this study recommends useful policy implications to increase enterprise innovation in the Chinese financial market.
Subjects: 
Chinese stock market
Enterprise innovation
Internal governance
Takeover market
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.