Browsing by Author "Lo, Huai‐Chun"
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Item How do ownership concentration and family control affect R&D investments? new evidence from Taiwan(Wiley-Blackwell, 2020-03-01) Ting, Irene Wei Kiong; Lo, Huai‐Chun; Kweh, Qian LongThis study finds a nonlinear relationship between ownership concentration and R&D investments. Specifically, ownership concentration is positively related to R&D investments at a low level of ownership concentration; the relationship becomes negative when ownership concentration is at a high level. However, the impact of ownership concentration on R&D investments is lessened in family-controlled firms; that is, family control moderates the relationship between ownership concentration and R&D investments. Overall, this study suggests that the ownership concentration's nonlinear impact on R&D investments differs between family-controlled firms and nonfamily-controlled firms. © 2018 International Review of Finance Ltd.