The Moderating Effect of External Financing on the Relationship Between Innovation Input and Enterprise Performance Based on the Moderating Effect Model of Two Interactions-Reference-Cited by-同舟云学术

The Moderating Effect of External Financing on the Relationship Between Innovation Input and Enterprise Performance Based on the Moderating Effect Model of Two Interactions

Published:2022-07-13 Issue:3 Volume:35 Page:1-22
ISSN:1040-1628
Container-title:Information Resources Management Journal
language:ng
Short-container-title:

Author:

Feng Jing¹,Yao Yonghong¹,Yang Qiaowen¹

Affiliation:

1. Guangzhou Huashang College, China

Abstract

This article takes China's high-tech companies from 2010 to 2019 as a sample to explore the correlation between innovation investment and corporate performance, and the moderating effect of external financing on innovation investment and corporate performance. The main research conclusions are as follows: (1) Innovation investment has a positive impact on corporate performance. (2) Equity financing has a positive regulatory effect on innovation input and corporate performance. (3) Debt financing has a negative regulatory effect on innovation input and corporate performance. The negative adjustment effects of debt financing from strong to weak are: bond financing, long-term borrowing, short-term borrowing, and commercial credit.

Publisher

IGI Global

Subject

Library and Information Sciences,Strategy and Management,Business and International Management

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