The primacy of innovation in strategic financial management-understanding the impact of innovation and performance on capital structure

2016 IEEE International Conference on Management of Innovation and Technology (ICMIT) Pub Date : 2016-10-25 DOI:10.1109/ICMIT.2016.7605048

S. Nosheen, R. Sadiq, A. Rafay

{"title":"The primacy of innovation in strategic financial management-understanding the impact of innovation and performance on capital structure","authors":"S. Nosheen, R. Sadiq, A. Rafay","doi":"10.1109/ICMIT.2016.7605048","DOIUrl":null,"url":null,"abstract":"This paper intends to determine the impact of pursuing a strategy for innovation on capital structure decisions and performance. It builds on the R&D management research which is country-focused and utilizes an international sample. This is significant when considering the sample of the study. While past studies have focused on single country samples, this study utilizes the most innovative firms in the world, thereby raising a new aspect in the innovation theory. Interestingly, this study finds that directionality of leverage, R&D investment and performance relationships observed appear to be contrary to existing research. This is attributed to the cross-country characteristics within the sample. This study differs from existing research by indicating variations in patterns of advertisement intensity and R&D investment across countries, as well as variations in patterns of innovation scores and business sophistication. Future research may explore the country characteristics associated with firms that pursue a strategy for innovation.","PeriodicalId":115029,"journal":{"name":"2016 IEEE International Conference on Management of Innovation and Technology (ICMIT)","volume":"102 ","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2016-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"2016 IEEE International Conference on Management of Innovation and Technology (ICMIT)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/ICMIT.2016.7605048","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}

引用次数: 4

Abstract

This paper intends to determine the impact of pursuing a strategy for innovation on capital structure decisions and performance. It builds on the R&D management research which is country-focused and utilizes an international sample. This is significant when considering the sample of the study. While past studies have focused on single country samples, this study utilizes the most innovative firms in the world, thereby raising a new aspect in the innovation theory. Interestingly, this study finds that directionality of leverage, R&D investment and performance relationships observed appear to be contrary to existing research. This is attributed to the cross-country characteristics within the sample. This study differs from existing research by indicating variations in patterns of advertisement intensity and R&D investment across countries, as well as variations in patterns of innovation scores and business sophistication. Future research may explore the country characteristics associated with firms that pursue a strategy for innovation.

查看原文本刊更多论文

创新在战略财务管理中的首要地位——理解创新和绩效对资本结构的影响

本文旨在确定追求创新战略对资本结构决策和绩效的影响。它建立在以国家为中心，利用国际样本的研发管理研究的基础上。考虑到研究的样本，这一点很重要。过去的研究主要集中在单个国家的样本上，而本研究利用了世界上最具创新性的公司，从而提出了创新理论的一个新方面。有趣的是，本研究发现杠杆、研发投入与绩效关系的方向性与已有研究相反。这归因于样本中的跨国特征。这项研究与现有研究的不同之处在于，它指出了各国广告强度和研发投资模式的差异，以及创新得分和商业成熟度模式的差异。未来的研究可能会探索与追求创新战略的公司相关的国家特征。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

2016 IEEE International Conference on Management of Innovation and Technology (ICMIT)

自引率

0.00%

发文量