The Impact of Chair-CEO Duality on R and D Investment in ‎Firms Led by Highly Educated CEOs

  • Authors

    • Shehabaddin Abdullah Abdulwadod Al-Dubai Department of Accounting, School of Business, King Faisal University, Al-Ahsa, Saudi Arabia Arabia ORCID: https://orcid.org/0000-0001-6415-7857
    https://doi.org/10.14419/80fcxe66

    Received date: August 16, 2025

    Accepted date: September 22, 2025

    Published date: September 29, 2025

  • Corporate Governance; Research and Development Investment R&D; Chair-CEO Duality; Higher Education; China

  • Abstract

    This study investigates the impact of Chair–CEO duality on R and D investment intensity in firms managed by highly educated CEOs using a ‎dataset of 877 firm-year observations from companies listed on the Shanghai and Shenzhen Stock Exchanges between 2015 and 2020. Employing Hausman–Taylor estimations to address potential endogeneity, the results reveal that Chair–CEO duality has a significantly positive ‎effect on R and D investment in such firms. In the context of highly educated CEOs, the concentration of authority does not appear to lead to ‎self-serving or inefficient behaviors but rather to more purposeful investments in innovation. Moreover, the results highlight the differences ‎in how CEOs approach R and D decisions based on the type of postgraduate degree they hold. These findings offer important insights into ‎how leadership education and governance structures jointly influence firms’ strategic-innovation outcomes‎.

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  • How to Cite

    Al-Dubai, S. A. A. . (2025). The Impact of Chair-CEO Duality on R and D Investment in ‎Firms Led by Highly Educated CEOs. International Journal of Accounting and Economics Studies, 12(5), 1107-1114. https://doi.org/10.14419/80fcxe66