While many boards adopt technology committees to support firm innovation, the impact of such committees is largely unexplored. We draw on agency and resource dependence theories to suggest that technology committees can improve firm innovation (patenting and new product introductions). We further hypothesize that relevant committee expertise (technology and executive expertise) enhances the effectiveness of the committee, and that the benefit of committee expertise is strengthened when coupled with financial resource provision. Our results support our theorizing about the impact of technology committees—they positively impact new product introductions, although they had no impact on patenting. We also found that committee expertise enhances committee effectiveness, but only when accompanied by greater financial resources. We discuss the implications of optional board structures, such as technology committees and their composition, on firm innovation.

中文翻译：

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星光熠熠：技术委员会和相关资源如何推动公司创新


虽然许多董事会采用技术委员会来支持公司创新，但此类委员会的影响在很大程度上尚未得到探索。我们利用代理和资源依赖理论来建议技术委员会可以改善公司创新（专利申请和新产品推出）。我们进一步假设，相关的委员会专业知识（技术和执行专业知识）提高了委员会的效率，并且当与财务资源提供相结合时，委员会专业知识的好处会得到加强。我们的结果支持我们关于技术委员会影响的理论——它们对新产品的推出产生了积极影响，尽管它们对专利申请没有影响。我们还发现，委员会的专业知识可以提高委员会的效率，但前提是要有更多的财政资源。我们讨论了可选的董事会结构（例如技术委员会及其组成）对公司创新的影响。