Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

 
 
Session Overview
Session
Corp Finance I - 2
Time:
Saturday, 14/Dec/2024:
9:40am - 10:35am

Session Chair: John (Jianqiu) Bai, Northeastern University
Discussant: Sunwoo Hwang, Korea University Business School
Location: 9B321 (3rd basement floor, International Hall)


Show help for 'Increase or decrease the abstract text size'
Presentations

Bridging Research(R) and Development(D): The Strategic Role of Scientists on the Board

Ronald W. Masulis, Elvira Sojli, Wing Wah Tham, Yufeng Yao

University of New South Wales, Australia

Recent trends show US firms reducing their investments in scientific research while relying increasingly on scientific breakthroughs for patent development. This shift raises a critical question: How do firms access scientific ideas to fuel their innovations? Our study examines the role of top decision-makers in firms, specifically Scientific Directors (SciDs), defined as outside directors with scientific expertise, in bridging the gap between scientific research and patent development. These SciDs are increasingly prevalent, especially in firms whose patents depend heavily on basic scientific research. We find a positive relationship between the influence of SciDs' publications on a firm’s innovation activity and the quality of its patents. Utilizing deep learning techniques, we categorize patents based on the SciDs' areas of expertise, revealing that firms produce high-quality patents in fields where SciDs are actively conducting research. We also provide evidence that SciDs contribute to developing a firm’s innovation talent by tapping their professional networks to help connect top-tier inventors. To address endogeneity concerns, we explore the impacts of scientific breakthroughs due to the Human Genome Project. We observe an increase in both the numbers and economic benefits of SciDs at pharmaceutical firms, highlighting their pivotal role in transforming basic science into patented innovations.


Masulis-Bridging Research(R) and Development-491.pdf


 
Contact and Legal Notice · Contact Address:
Privacy Statement · Conference: SFS Cavalcade Asia-Pacific 2024
Conference Software: ConfTool Pro 2.6.153
© 2001–2025 by Dr. H. Weinreich, Hamburg, Germany