Ting, Irene Wei KiongLo, Huai‐ChunKweh, Qian Long2020-02-032020-02-0320182020-03-01Ting, I. W. K., Lo, H.-C., & Kweh, Q. L. (2020). How do ownership concentration and family control affect R&D investments? New Evidence from Taiwan. International Review of Finance, 20(1), 275-291. https://doi.org/10.1111/irfi.122061369412Xhttp://dx.doi.org/10.1111/irfi.12206http://hdl.handle.net/20.500.12519/108This article is not available at CUD collection. The version of scholarly record of this article is published in International Review of Finance (2020), available online at: https://doi.org/10.1111/irfi.12206.This 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.enPermission to reuse the abstract has been secured from Wiley-Blackwell.Family firmsFamily businessSocioemotional wealthArticleCopyright : 2018 International Review of Finance Ltd.