| Summary: | 碩士 === 國立雲林科技大學 === 企業管理系碩士班 === 99 === Under the knowledge economic, innovation becomes the main basis for success. However, the different sources of innovation would bring different risk and effectiveness. Over the past academic research, innovation only used internal R&D as indicator. This research integrates the linkage between corporate governance systems and technology acquisition mode, which is divided into internal self-developed innovation strategy and external technology purchase innovation strategy.
After Enron scandal broke out in 2001, the corporate governance system has been focused around Taiwan and all over the world. Corporate start increasing the supervision of the board in order to protect the corporate interests of stakeholder. Hence, this study also includes the effectiveness of independent directors who will make the board more controllable. Finally we investigate how the board composition and ownership structure impact the internal and external innovation strategy.The research is based on the 367 publicly listed firms across information electron and traditional industry in Taiwan by using unbalanced panel data during 2002-2008. We collected the financial secondary data to establish the information we need in the study. We use fixed effect model to evaluate parameters of model, and use F test to examine the explanatory power of a model.
The results show that the different type of corporate governance system will affect the firm’s innovation strategies. This result indicates that the composition of board, ownership structure, and board capital substantially have impact on firm’s innovation strategies.
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