Financialization of manufacturing companies and corporate innovation: Lessons from an emerging economy

Kun Su and Heng Liu

Managerial and Decision Economics, 2021, vol. 42, issue 4, 863-875

Abstract: Despite the increased attention for the financialization issue in the academic field, the extent literature offers limited knowledge about its potential consequence on the innovation outcomes of manufacturing firms in emerging markets. We endeavor to investigate the effect of manufacturing firms' financialization behaviors on corporate innovation and its boundary conditions. Hypotheses of both direct and moderating effects are thus developed, and we test these hypotheses using 3373 observations of the public listed firms in China. By doing so, we thus shed light on an underappreciated antecedent (i.e., financialization) in an under‐theorized setting (emerging markets) over the topic of corporate innovation.

Date: 2021
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https://doi.org/10.1002/mde.3278

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:42:y:2021:i:4:p:863-875

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