The role environment and boards of directors’ characteristics on innovation: An empirical evidence of Greek listed firms

Research on the determinants of innovation practices and their effects on organisational performance have received an enormous attention among academics and business practitioners over the last few decades. Using evidence from a sample of 101 companies listed on the Athens Stock Exchange, the study examines the role of managerial and environmental characteristics on innovation strategies and how they contribute to Greek firms’ performance. The findings from linear regression analysis reveal that the functional background of executives and the complexity of the external environment are the key determinants of the innovation practices and thus, on organisational performance. The implications of the findings from the perspective theory and managerial practice are discussed, along with possible directions for future research.