Firm age and the probability of product innovation. Do CEO tenure and product tenure matter?

Cucculelli, Marco

doi:10.1007/s00191-017-0542-4

Cited by 54 publications

(33 citation statements)

References 78 publications

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“…Cummings and Carney [46,47] concluded the positive relation between CEO succession and innovation. In this connection, Cucculelli [49] observed that an external CEO successor enhances the innovation, but still, it is required to evaluate whether an internal CEO successor via hierarchical jump endorses innovative activity or not. Hierarchical jumps in CEOs succession escalate the firms' performance [27].…”

Section: Hypothesis Developmentmentioning

confidence: 99%

Do Hierarchical Jumps in CEO Succession Invigorate Innovation? Evidence from Chinese Economy

et al. 2019

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The objective of this study is to analyze Chief executive officer (CEO) succession via hierarchical jumps in Chinese listed firms which orientate towards innovative activity. Good corporate governance is a vehicle to attain the competitive advantage which ultimately makes the organizational sustainability undeterred. The current study will test not only low hierarchical jumps but also medium hierarchical jumps in CEO succession. The study will identify the relationship between specific attributes like education, age and the duality of CEO successors via hierarchical jumps with innovation. We have analysed the data of Chinese listed firms on Shenzhen and Shanghai stock exchanges for the years 2012–2016. Significantly, it has been observed that CEO successors via hierarchical jumps orientate towards innovative activity amongst Chinese listed firms. Conclusively, empirical results have unveiled that hierarchical CEO succession escalates the firms’ innovation. It has also been contemplated that not only the low hierarchical jumps but also medium hierarchical jumps in CEO succession invigorate the organizational innovation. Mature firms with a substantial return on assets or earning per share and having less loan burden concentrate on innovative activity decisively. It has been demonstrated that specific attributes like education, age and the duality of hierarchical CEO successors have no relationship with innovation. The study results are robust via confirmation of 2SLS instrumental regression.

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Section: Hypothesis Developmentmentioning

confidence: 99%

Do Hierarchical Jumps in CEO Succession Invigorate Innovation? Evidence from Chinese Economy

et al. 2019

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“…Some firm specific characteristics and systematic period effects may affect technological innovation and thus should be controlled. Previous studies indicate that technological innovation is more likely to be created in firms with more tangible assets, more net sales, more cumulative patent applications, larger scale or smaller age (Cucculelli, 2018;Heirman & Clarysse, 2007;Petruzzelli, Ardito, & Savino, 2018;Schilling & Phelps, 2007;G. P. Wang & Miao, 2015).…”

Section: Control Variablesmentioning

confidence: 99%

Debt Financing and Technological Innovation: Evidence From China

Xin

Sun

Zhang

et al. 2019

Journal of Business Economics and Management

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The availabilities of debt for Chinese firms have been increased since 2008 due to the expansionary monetary policies. These policies triggered concerns over the impact of debt financing on firms’ technological innovation activities. Based on a sample of 225 listed computer and telecommunications equipment firms in China within 2008-2015, this study explored the effect of debt financing on two types of technological innovation, namely radical and incremental innovation. Specifically, both the direct effect of debt financing on technological innovation and its moderating effect on the relationship between R&D intensity and technological innovation were investigated. Results of this study reveal that radical innovation decreases with debt financing at decreasing rates, while incremental innovation is not affected by debt financing itself. In addition, debt financing interacted with R&D intensity exerts positive effect on both radical and incremental innovation. This study adds meaningful insights to the literature on financing technological innovation and builds a bridge connecting macroeconomic policies to firm activities.

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“…This Special Issue on "Firm Age and Performance" seeks to collect evidence on the effect of firm age on performance and make it available collectively. The special issue starts with a review of the literature (Coad, 2017) which is then followed by six empirical studies on the relationship between firm age and innovation (Pellegrino, 2017;Cucculelli, 2017), financial performance (Van Stel et al, 2017), exporting (Grazzi and Moschella, 2017), survival (Anyadike-Danes and Hart, 2017) and growth (Cowling et al, 2017). The empirical studies and the review reveals that studying the effect of firm age generally means studying the uniqueness of entrepreneurial upstarts, comparing new and old firms or comparing entrants and incumbents.…”

Section: Epistemological Considerationsmentioning

confidence: 99%

Firm age and performance

et al. 2017

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International audienceAmid increasing interest in firm age and its effects on firm performance, this special issue offers an exhaustive review of the literature and a novel collection of evidence on the effects of firm age on performance, including a special focus of interest on innovation performance, financial performance, exports, survival and growth. This editorial positions the theme in the extant literature, and provides key definitions and challenges ahead in the field of evolutionary economics. It introduces the collection of articles composing the special issue. The papers offer a diversity of country contexts, as well as analytical approaches and methods. They include an exhaustive review of the literature on age and firms’ performance, and present original empirical studies focusing on the effects of age on firms’ economic outcomes on the one hand, and on innovation outcomes on the other hand. While most of the papers use econometric analysis, the level of analysis ranges from firm to individual

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Firm age and the probability of product innovation. Do CEO tenure and product tenure matter?

Cited by 54 publications

References 78 publications

Do Hierarchical Jumps in CEO Succession Invigorate Innovation? Evidence from Chinese Economy

Do Hierarchical Jumps in CEO Succession Invigorate Innovation? Evidence from Chinese Economy

Debt Financing and Technological Innovation: Evidence From China

Firm age and performance

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