Review paper
The Influence of Bondholder Concentration and Temporal Orientation on Investments in R&D
Abstract
Although innovation can be a critical source of competitive advantage, research has found that debt can erode management’s willingness to invest in R&D. In this article, we employ a stakeholder bargaining power perspective to argue that this effect is most pronounced when the firm’s bonds are concentrated in the hands of bond blockholders. Furthermore, we contend that the temporal orientation of bondholders influences this relationship....
Paper Details
Title
The Influence of Bondholder Concentration and Temporal Orientation on Investments in R&D
Published Date
Feb 14, 2020
Journal
Volume
47
Issue
3
Pages
683 - 715
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