Managerial long‐termism and corporate innovation: Evidence from China through text mining approaches
Ning Xu,
Di Zhang,
Yingjie Bai
Abstract:Adhering to long‐termism is essential for sustaining and promoting corporate innovation in the face of future uncertainty. In this study, we use machine learning and text analysis methods to construct a proxy variable for managerial long‐termism and explore how managerial long‐termism affects corporate innovation using a sample of 13,117 firm‐year observations from 2010 to 2020 in China. We find managerial long‐termism has a positive effect on corporate innovation, which is mainly achieved by mitigating agency… Show more
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