Title: Investigating the relationships between CEO duality, shareholding and entrepreneurial performance: the mediating effect of R&D intensity

Authors: Chun-Hsi Vivian Chen; Tao-Yu DJ Cheng

Addresses: Department of Business Administration, Graduate Institute, National Central University, No. 300, Jhongda Rd., Jhongli City, Taoyuan County 32001, Taiwan ' Department of Business Administration, Graduate Institute, National Central University, No. 300, Jhongda Rd., Jhongli City, Taoyuan County 32001, Taiwan

Abstract: This study aims to explore the mediating effect of R&D intensity (RDI) on the relationships between chief executive officer (CEO) duality, shareholding and firm performance. One hundred twenty-seven companies in the semiconductor industry are included in this study. Statistical approaches on three years of data (2006–2008) are used to examine the theoretical model. It is found that CEO duality and shareholding have positive and significant effects on RDI. On the contrary, CEO duality and shareholding have significant and yet negative effects on firm performance. In addition, RDI mediates the relationships between CEO duality, shareholding and firm performance. It is argued that the effect of RDI on firm performance is not easily predicted in areas of overspill or time lag, due to market competitiveness or time constraint. Suggestions and recommendations for future research are discussed.

Keywords: R&D intensity; CEO duality; shareholding; firm performance; enterprise development; research and development; entrepreneurial performance; entrepreneurship.

DOI: 10.1504/IJMED.2011.042972

International Journal of Management and Enterprise Development, 2011 Vol.11 No.1, pp.52 - 68

Published online: 10 Oct 2011 *

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