Outside directors' equity incentives and strategic alliance decisions

Chan, Konan; Chen, Vincent Y. S.; Huang, YuFang; Liang, J. Nellie

doi:10.1016/j.jcorpfin.2023.102381

Cited by 9 publications

(2 citation statements)

References 73 publications

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“…Independent directors serve as an important part of the board of directors (Bonini et al, 2022). The extant literature demonstrates that independent directors play a significant role in shaping corporate sustainability through monitoring and advisory mechanisms (Chan et al, 2023; Li, Zhang & Ding, 2023). However, the findings of these studies are not consistent.…”

Section: Theoretical Analysis and Hypotheses Developmentmentioning

confidence: 99%

ESG rating divergence and corporate green innovation

Zhou,

Lei,

2023

Bus Strat Env

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This study empirically examines whether and how ESG rating divergence affects corporate green innovation. Using a sample of Chinese listed companies, we find that ESG rating divergence has a positive impact on corporate green innovation. The results still hold after several robustness checks. Furthermore, we find that the positive impact of ESG rating divergence on green innovation is more pronounced in companies with higher resource advantages of independent directors and more media attention. We then discuss the economic consequences of corporate green innovation as a response to ESG rating divergence. The results suggest that this responsiveness generates an insurance‐like effect, where companies leverage green innovation as a buffer against risks related to ESG rating divergence. Overall, our study provides novel evidence that ESG rating divergence can stimulate corporate green innovation, which sheds light on the substantial impact of ESG ratings on corporate sustainability.

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Section: Theoretical Analysis and Hypotheses Developmentmentioning

confidence: 99%

ESG rating divergence and corporate green innovation

Zhou,

Lei,

2023

Bus Strat Env

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“…(2) Although there are many indicators involved in measuring the innovation effect of the alliance, the final analysis still lies in the innovation enthusiasm of each group, that is, the willingness and degree of information sharing [27,28]. Meanwhile, the choice of strategies of each group will evolve with the change of time, and its evolutionary mechanism is complex and changeable [29]. In view of this, this paper first sorts out and describes the innovative information-sharing mechanism of enterprises, universities, research institutes, and other organizations in the industry-university-research innovation alliance.…”

Section: Introductionmentioning

confidence: 99%

Research on the Group Innovation Information-Sharing Strategy of the Industry–University–Research Innovation Alliance Based on an Evolutionary Game

Tang,

Wang,

Feng

2023

Mathematics

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Based on various factors in information sharing between innovation alliance groups, this paper analyzes innovation information sharing under the influence of various factors and its evolutionary path to provide a reference for the decision-making of innovation information sharing between innovation alliance groups. Firstly, the paper analyzes the main factors influencing alliance group innovation information-sharing behavior. Secondly, based on the evolutionary game theory, an evolutionary game model of innovative information sharing under the cooperative trust degree of group decision-makers is constructed, and the related stable strategies are given. Finally, the sensitivity of innovative information-sharing strategies to key influencing factors is analyzed with the help of actual case data. The results show that a reasonable amount of innovation information sharing and fair profit distribution can improve the innovation information-sharing behavior among the industry–university–research alliance. Considering the trust degree of vertical partners, the alliance group pays more attention to the profit distribution ratio of collaborative innovation of the innovation alliance than the profit amount. When horizontal partner trust is considered, horizontal cooperation trust can promote information sharing among enterprises, universities, and research institutes in the short term but impedes information sharing among groups in the long term.

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Green innovation and cross-border strategic alliance announcements: Evidence from China

Li,

Zhang

2023

Finance Research Letters

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Outside directors' equity incentives and strategic alliance decisions

Cited by 9 publications

References 73 publications

ESG rating divergence and corporate green innovation

ESG rating divergence and corporate green innovation

Research on the Group Innovation Information-Sharing Strategy of the Industry–University–Research Innovation Alliance Based on an Evolutionary Game

Green innovation and cross-border strategic alliance announcements: Evidence from China

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