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CC BY V4.0, Open Access
Journal article
Does R&D Mediate the Link between Corporate Governance and Enterprise Value? Evidence from Family Firms Across Jurisdictional Contexts
Economics & Politics, Vol.37(3), pp.880-902
2025
Appears in Open Access via Read & Publish Agreements
Abstract
This study examines the mediating effect of R&D investment on the relationship between corporate governance and enterprise value, considering ownership (i.e., family vs. non-family firms) and jurisdictional differences (i.e., common law vs. civil law). Using a multinational sample from 2009 to 2018, this study reveals that R&D negatively and partially mediates the relationship between corporate governance and enterprise value, with a more substantial effect in family firms within a civil law context. This supports the assumption that family firms are more conservative towards R&D investment. This study highlights the need for strategic decision-making to consider ownership differences and legal context in shaping enterprise value.
Details
- Title
- Does R&D Mediate the Link between Corporate Governance and Enterprise Value? Evidence from Family Firms Across Jurisdictional Contexts
- Authors/Creators
- Dr Ella Xu - Murdoch University, College of Business
- Publication Details
- Economics & Politics, Vol.37(3), pp.880-902
- Publisher
- John Wiley & Sons Ltd.
- Number of pages
- 23
- Identifiers
- 991005761733907891
- Copyright
- © 2025 The Author(s).
- Murdoch Affiliation
- College of Business
- Language
- English
- Resource Type
- Journal article
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- Citation topics
- 6 Social Sciences
- 6.10 Economics
- 6.10.63 Corporate Governance
- Web Of Science research areas
- Economics
- Political Science
- ESI research areas
- Economics & Business