Does cash drive innovation? The relationship between cash holdings and firms' dual innovation performance

Xu, Yi; Li, Tao; Liu, Zhiying; Ding, Zihao

doi:10.1007/s42488-023-00103-y

J. of Data, Inf. and Manag.

2023

DOI: 10.1007/s42488-023-00103-y

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Does cash drive innovation? The relationship between cash holdings and firms' dual innovation performance

Yi Xu,

Tao Li,

Zhiying Liu

et al.

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2024

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Cited by 4 publications

References 42 publications

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Adaptation and innovation: How does climate vulnerability shapes corporate green innovation in BRICS

Liu,

Yuan,

et al. 2024

International Review of Financial Analysis

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Adaptation and innovation: How does climate vulnerability shapes corporate green innovation in BRICS

Liu,

Yuan,

et al. 2024

International Review of Financial Analysis

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Does digital finance development affect corporate cash holdings? Evidence from China

Fan,

Wang,

2024

Technology Analysis & Strategic Management

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Green Innovation and firm Performance: An Empirical Study of China's Power Industry

Zhang,

Wang,

Azmi

et al. 2024

IMBR

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With China’s goal of achieving "carbon peak and neutrality”, green innovation has become an inevitable choice to accomplish the dual objective of ecological protection and economic growth. The objective of this study is to examine whether green innovation can contribute to enhancing firm performance. Specifically, this study empirically investigates the relationship between green innovation and firm performance by analyzing a sample of listed firms in China's A-share power industry from 2009 to 2022. By using panel fixed effect regression, this study found that green innovation markedly and positively enhances the firm's current performance. Furthermore, this paper tested the effect of green innovation on the firm's future performance, which is positive and greater than the effect on the current performance. Through data support spanning 14 years, this study verifies the theoretical hypothesis that green innovation can substantially enhance firm performance in the power industry. This not only deepens the understanding of how green innovation affects firm performance but also offers empirical evidence to support the further implementation and advancement of green innovation within the power industry. This study only uses a sample of a single industry, so the conclusions of this study do not have explanatory power for firms in other industries.

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Does cash drive innovation? The relationship between cash holdings and firms' dual innovation performance

Cited by 4 publications

References 42 publications

Adaptation and innovation: How does climate vulnerability shapes corporate green innovation in BRICS

Adaptation and innovation: How does climate vulnerability shapes corporate green innovation in BRICS

Does digital finance development affect corporate cash holdings? Evidence from China

Green Innovation and firm Performance: An Empirical Study of China's Power Industry

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