Board diversity and innovation

• Main Authors: Wei-Chih Lin, 林暐智
• Other Authors: I-Ju Chen
• Format: Others
• Language: en_US
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/29294256587528488968

博士 === 元智大學 === 管理學院博士班 === 105 === This dissertation aims to investigate the effect of board diversity on corporate innovation. We incorporate all potential variables which affect the corporate innovation from literature to construct the inherent board diversity index and the acquired board diversity index to examine this matter. Our results indicate that board diversity is positively and significantly associated with a firms’ innovation. These two board diversity indices that capture different information from directors show various effects on innovation. The inherent board diversity is positively correlated with innovation output, patents and citations, while acquired board diversity is positively associated with innovation input, R&D, and innovation efficiency, patents divided to R&D capital. We also find that inherent board diversity has a stronger effect on innovation in non-high-tech firms, focus firms, high financial constraints firms, and low Tobin’s Q firms. Acquired board diversity has a stronger effect on innovation input in high-tech firms, diversified firms, low financial constraints firm, and low Tobin’s Q firms. Acquired board diversity also has a stronger effect on innovation efficiency in high-tech firms, focus firms, high financial constraints firms, and high Tobin’s Q firms.