School of Business
Educate to innovate: STEM directors and corporate innovation
Document Type
Article
Abstract
Using a sample of 14,245 firm-year observations from 2,579 listed firms in the Chinese capital market, this study investigates whether board directors with an educational background in science, technology, engineering, and mathematics (STEM) are associated with greater corporate innovation. The results suggest that such directors have significant beneficial effects on corporate innovation activities. This study provides novel empirical evidence supporting resource dependence theory and extends the labor economics literature regarding the value of STEM graduates for corporate innovation. The findings have significant implications for policymakers and practitioners, showing that firms with a strategic focus on innovation may find it beneficial to appoint more directors with a background in STEM.
Publication Title
Journal of Business Research
Publication Date
1-2022
Volume
138
First Page
229
Last Page
238
ISSN
0148-2963
DOI
10.1016/j.jbusres.2021.09.022
Keywords
board of directors, corporate innovation, STEM, STEM directors
Repository Citation
Hsieh, Tien Shih; Kim, Jeong Bon; Wang, Ray R.; and Wang, Zhihong, "Educate to innovate: STEM directors and corporate innovation" (2022). School of Business. 95.
https://commons.clarku.edu/faculty_school_of_management/95
