The Impact of Innovation Strategy on the Financial, Social and Environmental Performance

H. Saremi, M. Mahmoudi, Mojtaba Soltaninezhad, M. Hosseinpour
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Abstract

The core purpose of this study is to investigate the effect of innovation strategy on financial, social and environmental performance of companies listed on the Tehran Stock Exchange (TSE). The information used is from 129 companies listed on TSE in different industries between 2011 and 2018 (1032 observations). In order to analyze the data, a multivariate regression test was used. The results showed a positive and significant relationship between innovation strategy on financial performance and environmental performance. Also, the relationship between innovation strategy and social performance has a positive but insignificant. Innovation tools are also among the few management tools that can have a positive impact on both financial performance and the company's environmental performance. In this research, an attempt has been made to look at the idea of innovation from a financial point of view, and its results in the long run indicate the right choice of management to invest in the company's research and development unit.
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创新战略对财务、社会和环境绩效的影响
本研究的核心目的是探讨创新策略对德黑兰证券交易所(TSE)上市公司财务、社会和环境绩效的影响。所使用的信息来自2011年至2018年间在东京证券交易所上市的129家不同行业的公司(1032次观察)。为了对数据进行分析,采用多元回归检验。结果表明,创新战略对财务绩效和环境绩效的影响呈显著正相关。创新战略与社会绩效之间存在显著正相关关系,但不显著。创新工具也是为数不多的能够对财务绩效和公司环境绩效产生积极影响的管理工具之一。在本研究中,尝试从财务的角度来看待创新的概念,其结果从长远来看,表明管理层正确的选择投资于公司的研发部门。
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