Scandinavian Working Papers in Economics

Papers in Innovation Studies,
Lund University, CIRCLE - Centre for Innovation Research

No 2006/7: Board control and corporate innovation: an empirical study of small technology-based firms

Jonas Gabrielsson () and Diamanto Politis ()
Additional contact information
Jonas Gabrielsson: CIRCLE, Lund University, Postal: PO Box 117, Sölvegatan 16, SE-22100 Lund, Sweden
Diamanto Politis: Institute of Economic Research, Lund University, Postal: Sweden

Abstract: This paper follows a behavioural perspective on boards and governance in exploring the influence of board control on corporate innovation in small technology-based firms. An analysis of 135 Swedish technology-based firms suggests that board involvement in decision control may influence corporate innovation. The empirical results show that board involvement in strategic decision control is positively associated with process innovation, while board involvement in financial decision control is positively associated with organizational innovation. No association is found between board involvement in decision control and product innovation. Overall, the findings suggest that board involvement in decision control may promote corporate innovation but that different kinds of decision control influence different forms of innovation.

Keywords: boards of directors; corporate innovation; decision control; technology-based firms; small firms

JEL-codes: O30

23 pages, June 1, 2006

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200607_Gabrielsson_Politis.pdf PDF-file 

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