CEO greed and corporate technological innovation: Analyst coverage as an external governance mechanism in China's A-share market.

ABSTRACT: As the Fourth Industrial Revolution advances, technological innovation has emerged as a key driver for firms to shape core competitiveness. The corporate governance literature recognizes CEO personality traits as key determinants of a firm's technological innovation. Drawing on Upper Echelons Theory and Behavioral Agency Theory, this study investigates the effect of CEO greed on corporate technological innovation using a sample of China's A-share companies listed on the Shanghai and Shenzhen stock exchanges from 2011 to 2023. We find that: (1) CEO greed significantly fosters corporate technological innovation. (2) Analyst coverage strengthens the positive relationship between CEO greed and corporate technological innovation. (3) This effect varies significantly across different firms and i

SUBMITTER: Hu Y 

PROVIDER: S-EPMC12646448 | biostudies-literature | 2025

REPOSITORIES: biostudies-literature