Purpose The purpose of this paper is to present a review of the literature on two lines of research, corporate governance and innovation, explaining how different internal corporate governance mechanisms may be determinants of business innovation. Design/methodology/approach It explores the theoretical background and the empirical evidence regarding the influence of both ownership structure and the board of directors on company innovation. Then, conclusions are drawn and possible future research lines are presented. Findings No consensus was observed regarding the relation between corporate governance and innovation, with both positive and negative arguments being found, and with empirical evidence not always pointing in the same direction. Thus, new studies trying to clarify this relationship are needed. Originality/value Over recent years, interest has grown in the influence of governance mechanisms on innovation decisions taken by the management. Innovation efforts and results depend on factors that are influenced by corporate governance, such as ownership structure or the functioning of the board of directors. Thus, the paper shows an updated state of the art in this field proposing future lines for empirical research.

中文翻译：

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公司治理与创新：理论回顾

目的本文的目的是对有关公司治理和创新两方面研究的文献进行综述，以解释不同的内部公司治理机制如何可能成为业务创新的决定因素。设计/方法/方法它探讨了所有权结构和董事会对公司创新的影响的理论背景和经验证据。然后，得出结论并提出可能的未来研究方向。调查结果没有发现关于公司治理与创新之间关系的共识，发现了正面和负面的论据，并且经验证据并不总是指向同一方向。因此，需要进行新的研究来阐明这种关系。创意/价值近年来，治理机制对管理层做出的创新决策的影响越来越引起人们的关注。创新努力和成果取决于受公司治理影响的因素，例如所有权结构或董事会的运作。因此，本文显示了该领域的最新技术，为实证研究提出了未来的思路。