Abstract
This study aims to evaluate the relationship of liquidity risk, credit risk, solvency risk with corporate innovation in five emerging and nine developed countries during the period from 2002-2017. In this regard, we include 1304 firms’ data which is collected from Compustat. In addition, two-step system dynamic panel estimation is applied to evaluate the defined relationship. We found that credit risk and solvency risk are basic drivers to enhance the corporate innovation in selected countries. We found that credit risk and solvency risk have significant relationship with corporate innovation. Furthermore, liquidity risk has not found relationship with corporate innovation. Key words: Liquidity Risk, Credit Risk, Solvency Risk, Corporate Innovation
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