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http://hdl.handle.net/1942/40239
Title: | Ownership Heterogeneity and Corporate Innovation Output: A Study on Family Blockholders and Activist Hedge Funds | Authors: | Leute, Matthias BAMMENS, Yannick Carree, Martin HUYBRECHTS, Jolien |
Issue Date: | 2023 | Publisher: | SAGE PUBLICATIONS INC | Source: | Family Business Review, 36 (2) , p. 254 -280 | Abstract: | This study examines the interplay between two influential yet opposing shareholder types-family blockholders and hedge funds-in relation to corporate innovation output. Using panel data on U.S. publicly traded firms listed in the S&P 1500, we find that family blockholders have a negative effect on radical innovation output in the form of citation-weighted patents and that this negative effect is intensified in the presence of activist hedge funds. Our study advances insight into the implications of ownership heterogeneity for innovation output choices in family-influenced firms. | Notes: | Bammens, Y (corresponding author), Hasselt Univ, Fac Business Econ, Dept Mkt & Strategy, Agoralaan Gebouw D, B-3590 Diepenbeek, Belgium. yannick.bammens@uhasselt.be |
Keywords: | family ownership;institutional ownership;hedge funds;innovation;behavioral agency model | Document URI: | http://hdl.handle.net/1942/40239 | ISSN: | 0894-4865 | e-ISSN: | 1741-6248 | DOI: | 10.1177/08944865231168918 | ISI #: | 000980284500001 | Rights: | The Author(s) 2023 | Category: | A1 | Type: | Journal Contribution |
Appears in Collections: | Research publications |
Files in This Item:
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Ownership Heterogeneity and Corporate Innovation Output_ A Study on Family Blockholders and Activist Hedge Funds.pdf Restricted Access | Published version | 313.42 kB | Adobe PDF | View/Open Request a copy |
Auteursversie Leute Bammens et al FBR 2023.pdf | Peer-reviewed author version | 1.69 MB | Adobe PDF | View/Open |
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