社長およびTMTのデモグラフィック特性と研究開発費支出の関係性

概要

論文の詳細を見る
There are only a few studies about the relationship between top managers' demography and R & D spending. Using data from the electronics industry and the precision instrument industry in Japan, this study examined the relationship between demography of CEO or top management team (TMT) and firm R & D spending. After controlling for the impact of demography of other top managers, CEO demography was found to have a significant influence on R & D spending. This result suggests that CEO remains influential figure in the strategic decision-making process, although CEO has been often ignored in TMT studies. Another result shows that CEO demography had a significant impact when there is a strong demographic similarity between CEO and other top managers, while CEO had no impact when the demographic similarity decreased. This result suggests that other top managers except CEO have significant impact on strategic decision-making, although they have been ignored in CEO research. From these results, this study makes implication for both researches on TMT and CEO regarding the unit of analysis.
2005-11-10