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BEGIN:VEVENT
SUMMARY:Seminar by Dr. Benjamin Balsmeier\, KU Leuven
DTSTART:20151016T120000
DTEND:20151016T133000
DTSTAMP:20260406T102144Z
UID:2a7c3733da395269d73dc6d14c1cddc11659aa7e6e0e6fd24fca7c8a
CATEGORIES:Conferences - Seminars
DESCRIPTION:Dr. Benjamin Balsmeier\, KU Leuven\n"Independent Boards and In
 novation"Abstract\nMuch research has suggested that independent boards of 
 directors are more effective in reducing agency costs and improving firm g
 overnance. Less clear\, however\, is how they influence innovation and inn
 ovation search strategies. We argue that the increased oversight of indepe
 ndent boards results in both greater managerial effort and risk aversion\;
  as a result\, firms invent more but less novel patents. Relying on regula
 tory changes for identification\, we show that firms that transition to in
 dependent boards focus on more crowded and familiar areas of technology. T
 hey patent and claim more and receive more total future citations to their
  patents\, though the citation increase comes mainly from incremental pate
 nts in the middle of the distribution\; the numbers of uncited and highly 
 cited patents - arguably corresponding to riskier and completely failed or
  breakthrough inventions\, respectively - do not change significantly.Keyw
 ords: Corporate Governance\, Innovation\, Patents\, Board Composition\, In
 dependent DirectorsAuthors\nBenjamin Balsmeier\, Lee Fleming\, and Gustavo
  Manso
LOCATION:ODY 4.03 VIP Room http://plan.epfl.ch/?zoom=19&recenter_y=5863800
 .12869&recenter_x=731560.22521&layerNodes=fonds\,batiments\,labels\,inform
 ation\,parkings_publics\,arrets_metro\,transports_publics&floor=4&q=ODY_4.
 03
STATUS:CONFIRMED
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