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INNOVATIVE KNOWLEDGE ASSETS AND ECONOMIC PERFORMANCE: THE ASYMMETRIC ROLES OF INCENTIVES AND MONITORING

机译:创新知识资产和经济绩效:激励和监督的不对称作用

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摘要

We posit that a firm's resource configuration constitutes a critical context for various corporate governance mechanisms. Although innovative knowledge assets are generally a key determinant of a firm's economic performance, they also lead to greater information asymmetry among managers and owners and to the need to grant managers more discretion in making resource deployment decisions. This weakens the role of monitoring but increases the effectiveness of incentive mechanisms. Therefore, we hypothesize asymmetric moderating effects of monitoring- and incentive-based governance mechanisms on the relationship between innovative knowledge assets and economic performance. Our empirical analyses provide support for the key arguments.
机译:我们认为,公司的资源配置构成了各种公司治理机制的关键环境。尽管创新性知识资产通常是决定公司经济绩效的关键因素,但它们也导致经理和所有者之间更大的信息不对称性,并需要给予经理更多的酌处权以做出资源部署决策。这削弱了监督的作用,但提高了激励机制的有效性。因此,我们假设基于监督和激励的治理机制对创新知识资产与经济绩效之间关系的不对称调节作用。我们的实证分析为关键论点提供了支持。

著录项

  • 来源
    《Academy of Management Journal》 |2009年第5期|919-938|共20页
  • 作者

    JINYU HE; HELI C. WANG;

  • 作者单位

    Hong Kong University of Science and Technology;

    Hong Kong University of Science and Technology;

  • 收录信息 美国《科学引文索引》(SCI);美国《化学文摘》(CA);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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