Research on the Impact of Management Shareholding Ratio on Corporate Innovation: Based on the Mediating Effect of Financial Deepening

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Published: Dec 6, 2024
DOI: https://doi.org/10.31253/rubin.v3i1.3421
Keywords:
Management Shareholding Ratio, Financial Deepening, Enterprise Innovation, R&D Investment, Patent Output

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Authors

    Peng Quan( 1 ) MingJing Chen( 2 ) ZhongZhuoFei Tan( 3 )

    (1) Universitas Satyagama | Indonesia
    (2) City University of Macau | Macao
    (3) Liuzhou Technical School | China

Abstract

The management shareholding ratio is an indicator to measure the degree of separation between ownership and management in a company. The lower the management shareholding ratio, the higher the degree of separation between ownership and management. Research and development innovation is the key to measuring the development of a company. The ratio of management shareholding ratio will affect the level of innovation in the company. Financial deepening refers to non-financial enterprises whose profits come more from investment activities. Therefore, this study used data from China from 2014 to 2018 to research the impact of management shareholding ratio on innovation R&D investment and output in non-financial enterprises through a fixed effects model. The degree of financial deepening is added as an intermediary variable to investigate the effect of management shareholding ratio on enterprise innovation under the influence of financial deepening. Ultimately, it was found that management shareholding ratio weakens the degree of financial deepening in enterprises, thereby promoting innovation R&D investment and output.

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How to Cite
Quan, P., Chen, M., & Tan, Z. (2024). Research on the Impact of Management Shareholding Ratio on Corporate Innovation: Based on the Mediating Effect of Financial Deepening. RUBINSTEIN, 3(1), 39–49. https://doi.org/10.31253/rubin.v3i1.3421
Issue
Vol. 3 No. 1 (2024): RUBINSTEIN: Prinsip Good Governance, Pernyataan Standar Akuntansi Keuangan (PSAK) Nomor 109, Monograf Komprehensif, Impact of Management Shareholding Ratio, Characteristics and Problem Identification.
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