Dear Colleagues,
The next Entrepreneurship and Innovation Policy Research virtual seminar is Wednesday, May 15, from 11:00-12:00 ET. Cornelia Storz (Goethe University Frankfurt) - will present "Government R&D Subsidies, TMT Diversity, and Innovation". Andreas König (University of Passau) will discuss. Click the link HERE to register for the 5/15 seminar (abstract is below).
We hope you join us for the last of our Spring 2024 seminars!
- Tim Folta (UCONN), Maryann Feldman (ASU), and Supradeep Dutta (Rutgers U)
Abstract: Industrial policy to promote innovation has returned. Industrial policy research emphasizes government capabilities to promote innovation by selecting the right firms. However, strategy research long has stressed that top management teams (TMT) make a difference in resource utilization. We argue that firms with more diverse TMTs translate government R&D subsidies into more innovation. Using a unique dataset of publicly listed Chinese firms between 2008 and 2017 and combining a matching approach with a difference-in-difference design, we find that TMT's international and functional diversity helps firms to create more innovation from R&D subsidies. Our results contribute to studies at the nexus between industrial policy and strategic management by underscoring the vital role of TMT diversity in facilitating impactful industrial policies.