Corporate financial investment’s effects on corporate innovation

Abstract

This study develops an analytical model on the impact of corporate financialization and corporate R&D expenditure based on the micro perspective of firms, and uses data from A-share listed companies to test and assess the fixed-effect model and IV-GMM test, respectively. The findings indicate that business financialization has a considerable negative impact on company R&D investment, and that as corporate financialization levels rise, corporate.