ترجمه مقاله نقش ضروری ارتباطات 6G با چشم انداز صنعت 4.0
- مبلغ: ۸۶,۰۰۰ تومان
ترجمه مقاله پایداری توسعه شهری، تعدیل ساختار صنعتی و کارایی کاربری زمین
- مبلغ: ۹۱,۰۰۰ تومان
abstract
Employing data on publicly listed manufacturing firms in India during 2001–2012, the paper examines whether banker–director on firm board influences R&D activities. Evidence indicates that firms with commercial banker– director invest significantly less in R&D, although no such evidence is forthcoming for investment banker– directors. A disaggregation of firms based on the extent of equity and board presence suggests that groupaffiliated firms with commercial banker nominees are less likely to engage in innovative activity.
6. Results and discussion
The result of the empirical estimation is presented in Table 4. The Wald chi-square statistics is significant across all specifications: the independent variables account for variation in R&D intensity. The significance on the inverse Mills' ratio (λ) supports the existence of a sample selection bias. In this respect, the use of the Heckman model seems appropriate.