Corporate Governance and Innovation Activity in Polish Public Companies. An Empirical Study

Abstract

Various components of the corporate governance system combine info an institutional environment for innovation processes, which are undertaken by corporations. This paper focus on the analysis of influence of corporate governance system on companies innovativeness. The empirical study concentrates the following components of the system: a level of ownership concentration, a type of control exerted over a company, a type of investor, the motivation system for managerial staff, a type of supervision and an orientation of the company board. The discussion points out certain possible correlation between same components of a corporate governance system and an innovative orientation of enterprises. These hypotheses were empirically verified on a sample of 150 public companies, listed on the Warsaw Stock Exchange in the period between 1998 and 2000.