Role of foreign and domestic institutional investors in corporate sustainability: Focusing on r&d investment
DC Field | Value | Language |
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dc.contributor.author | Shin, I. | - |
dc.contributor.author | Park, S. | - |
dc.date.available | 2020-11-16T00:40:37Z | - |
dc.date.created | 2020-11-02 | - |
dc.date.issued | 2020-10 | - |
dc.identifier.issn | 2071-1050 | - |
dc.identifier.uri | https://scholarworks.bwise.kr/gachon/handle/2020.sw.gachon/78939 | - |
dc.description.abstract | This paper examines the effects of ownership by foreign and domestic institutional investors on corporate sustainability by focusing on the level of research and development (R&D) investment. Long-term investment in R&D is crucial for companies that seek to generate sustainable growth. Ordinary least-squares regression is performed on a sample of Korean listed companies. The main test with both foreign and domestic institutional ownership is based on a study period from 2001 to 2004. The results indicate that firms with higher levels of foreign institutional ownership exhibit greater levels of corporate R&D activities, while the ownership by domestic institutions has no significant influence on firms’ R&D investment. An additional test with foreign institutional ownership data is based on an extended study period from 2001 to 2014, and shows that foreign institutional ownership is positively related to firms’ R&D investment. This result survives the two-stage instrumental variable approach used to address endogeneity factors in foreign institutional ownership. Taken together, these findings suggest that foreign institutions can effectively monitor managerial myopia and promote corporate innovations. © 2020 by the authors. Licensee MDPI, Basel, Switzerland. | - |
dc.language | 영어 | - |
dc.language.iso | en | - |
dc.publisher | MDPI AG | - |
dc.relation.isPartOf | Sustainability (Switzerland) | - |
dc.title | Role of foreign and domestic institutional investors in corporate sustainability: Focusing on r&d investment | - |
dc.type | Article | - |
dc.type.rims | ART | - |
dc.description.journalClass | 1 | - |
dc.identifier.wosid | 000583071800001 | - |
dc.identifier.doi | 10.3390/su12208754 | - |
dc.identifier.bibliographicCitation | Sustainability (Switzerland), v.12, no.20, pp.1 - 13 | - |
dc.identifier.scopusid | 2-s2.0-85093867731 | - |
dc.citation.endPage | 13 | - |
dc.citation.startPage | 1 | - |
dc.citation.title | Sustainability (Switzerland) | - |
dc.citation.volume | 12 | - |
dc.citation.number | 20 | - |
dc.contributor.affiliatedAuthor | Shin, I. | - |
dc.type.docType | Article | - |
dc.subject.keywordAuthor | Domestic institutions | - |
dc.subject.keywordAuthor | Foreign institutions | - |
dc.subject.keywordAuthor | Innovation | - |
dc.subject.keywordAuthor | Institutional investors | - |
dc.subject.keywordAuthor | R& | - |
dc.subject.keywordAuthor | D | - |
dc.subject.keywordAuthor | Sustainability | - |
dc.subject.keywordPlus | corporate social responsibility | - |
dc.subject.keywordPlus | institutional framework | - |
dc.subject.keywordPlus | investment | - |
dc.subject.keywordPlus | least squares method | - |
dc.subject.keywordPlus | ownership | - |
dc.subject.keywordPlus | research and development | - |
dc.subject.keywordPlus | sustainability | - |
dc.subject.keywordPlus | Korea | - |
dc.description.journalRegisteredClass | scie | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
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