A Literature Review of the Relationship between Board Characteristics and R&D Expenditure
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Dan Han, Xinchang Ren
The board of directors, as the head of the company's governance and critical management, plays a guiding and decisive role in the company’ innovation and development. However, the current research on the relationship between board characteristics and R & D investment has not yet reached a consistent conclusion, so it is necessary to sort out and review the relevant literature. This paper summarizes the research on the relationship between the Board Characteristics and R & D investment in China from such six aspects as the characteristics of the board's structure, power composition, behaviour, incentive, stability, and background. The research in this article indicates that future research can be empirically tested by industry, and there are few related studies on the relationship between board stability and R&D investment, which may be an entry point.
Board Characteristics, R&D Expenditure, Literature review, Corporate governance