This study examines if the relationship between corporate social responsibility (CSR) and innovation is homogeneous or depends on the type of CSR practice and/or the type of innovation. The paper focuses on the three dimensions of the “three bottom line” of CSR (economic, social, and environmental) and on the so‐called “fateful triangle” of innovation, which together with studied product and process innovation types also considers organizational innovation. The theoretical framework is based on the resource‐based view and the knowledge‐based view approaches. In analysing sustainable innovation in the Spanish context, we look at a set of firms taking data for the 2009–2014 Spanish Community Innovation Survey. The empirical study uses random effect probit panel data methodology. The results show that, although the positive effect of CSR on innovation is confirmed for the majority of the cases, there are differences depending on the innovation type and the CSR dimension.

No abstract

No abstract

No abstract

No abstract

No abstract

This study analyses whether or not the effect of board independence on a firm's strategic performance is moderated by family involvement in ownership and control. Moderation of the board's size and the independent director ratio are tested under quadratic specifications. The effect of CEO duality with family involvement on long-term sales growth is also measured. The empirical analysis is conducted in the Southern European context using a sample of publicly traded firms that have concentrated ownership structures. The main findings indicate that when nonlinearities are considered, family involvement moderates the relationship between the independent director ratio and firm performance. The optimal proportion of independent directors is lower in family businesses than in non-family ones. However, the results fail to support nonlinearities for board size. We find positive linear relationships between both board size and CEO duality with firm performance, which are not moderated by family involvement.

The aim of this paper was to analyze equity market reactions to the mandatory European Union regulation of remuneration policies in financial institutions. Using event study methodology, we investigated market reactions to the first European Directive on compensation policies after the financial crisis using a sample of 124 banks operating in the European Union. We divided the sample into two groups according to bank size considering four criteria: the US Dodd‐Frank Act 2010, the Liikanen Report 2012, Global Systemically Important Banks 2011, and the European Central Bank 2014. We found strong evidence of an average negative market reaction to compensation regulation. Moreover, this negative reaction is stronger for large banks than for small/medium sized banks.