Authors : Saeed Ashoori; Samaneh Bazrafshan; Ahmad Rezaei

Volume/Issue : Volume 8 - 2023, Issue 12 - December

Google Scholar : http://tinyurl.com/2p8xv6p2

Scribd : http://tinyurl.com/4mdzee7u

DOI : https://doi.org/10.5281/zenodo.10454086

Abstract : Innovation is considered to be the main driving force of economic balance and development within systems, therefore the impact of innovative investment in the company is very significant. That is why today, with the intensification of global competition, innovation has become more important than ever. The main purpose of this research is to investigate the moderating role of financial incentive on the relationship between the CEO's knowledge structure on innovative policy and stock returns of companies listed on the Tehran Stock Exchange. In this research, the level of power, level of knowledge and its depth were used to examine the knowledge structure of the CEO. In order to judge the purpose of this research, the information of 15 companies admitted to the Tehran Stock Exchange, which had variable information on research and development between 2018-2022, was used. The results of statistical tests indicate that the CEO's knowledge structure has a significant effect on innovative policy. These achievements regarding the effect of CEO's knowledge structure on stock returns also confirmed this. Based on the results of this research, it is expected that the characteristics of CEOs will be an effective measure regarding value creation and development measures in companies. The structure of knowledge, along with individual characteristics such as aggressive or conservative motives, will draw the company's future policy in line with its goals.

Keywords : CEO, Innovation, Stock Returns, Strategic Decisions, Knowledge Structure.