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Managerial myopia and short-termism of innovation strategy: Financialisation of Korean firms

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dc.contributor.authorSeo, Hwan Joo-
dc.contributor.authorKang, Sung Jin-
dc.contributor.authorBaek, Yong Jun-
dc.date.accessioned2021-08-30T09:50:33Z-
dc.date.available2021-08-30T09:50:33Z-
dc.date.created2021-06-18-
dc.date.issued2020-11-
dc.identifier.issn0309-166X-
dc.identifier.urihttps://scholar.korea.ac.kr/handle/2021.sw.korea/52065-
dc.description.abstractThis study empirically examines whether managerial myopia leads to short-termism of innovation strategy using Korean firm and USPTO data covering 1980-2017. The main finding is that payout indicators, as the proxy variables for financialisation and managerial myopia, have a negative effect on innovation, quantitatively and qualitatively. Hence, managerial myopia and short-termism of innovation strategy are related. Further, estimation by the firm's size reveals that the hypothesis of managerial myopia leading to short-termism of innovation strategy is valid only for conglomerates.-
dc.languageEnglish-
dc.language.isoen-
dc.publisherOXFORD UNIV PRESS-
dc.subjectRESEARCH-AND-DEVELOPMENT-
dc.subjectSHAREHOLDER VALUE-
dc.subjectINVESTMENT-
dc.subjectFINANCIALIZATION-
dc.subjectLIBERALIZATION-
dc.subjectACCUMULATION-
dc.subjectCOMPETITION-
dc.subjectSLOWDOWN-
dc.subjectGROWTH-
dc.titleManagerial myopia and short-termism of innovation strategy: Financialisation of Korean firms-
dc.typeArticle-
dc.contributor.affiliatedAuthorKang, Sung Jin-
dc.identifier.doi10.1093/cje/beaa023-
dc.identifier.scopusid2-s2.0-85097454922-
dc.identifier.wosid000607798600002-
dc.identifier.bibliographicCitationCAMBRIDGE JOURNAL OF ECONOMICS, v.44, no.6, pp.1197 - 1220-
dc.relation.isPartOfCAMBRIDGE JOURNAL OF ECONOMICS-
dc.citation.titleCAMBRIDGE JOURNAL OF ECONOMICS-
dc.citation.volume44-
dc.citation.number6-
dc.citation.startPage1197-
dc.citation.endPage1220-
dc.type.rimsART-
dc.type.docTypeArticle-
dc.description.journalClass1-
dc.description.journalRegisteredClassssci-
dc.description.journalRegisteredClassscopus-
dc.relation.journalResearchAreaBusiness & Economics-
dc.relation.journalWebOfScienceCategoryEconomics-
dc.subject.keywordPlusRESEARCH-AND-DEVELOPMENT-
dc.subject.keywordPlusSHAREHOLDER VALUE-
dc.subject.keywordPlusINVESTMENT-
dc.subject.keywordPlusFINANCIALIZATION-
dc.subject.keywordPlusLIBERALIZATION-
dc.subject.keywordPlusACCUMULATION-
dc.subject.keywordPlusCOMPETITION-
dc.subject.keywordPlusSLOWDOWN-
dc.subject.keywordPlusGROWTH-
dc.subject.keywordAuthorManagerial myopia-
dc.subject.keywordAuthorFinancialisation-
dc.subject.keywordAuthorShort-termism-
dc.subject.keywordAuthorInnovation strategy-
dc.subject.keywordAuthorRadical innovation-
dc.subject.keywordAuthorKorean firms-
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