Innovation of Financial Management to Firm: Based on Market Orientation

Abstract

In a market economy, Market Orientation is the only correct choice for economic development strategy, so it is also significant for financial management innovation. While most studies in the past decade focused on the consequences of fund in financial management, few have investigated antecedents to market orientation concept. This study focuses on the financial management innovation based on the Market Orientation. We develop a Mechanistic model of the role of Market Orientation for financial management innovation to explore the impact of Market Orientation on the financial management innovation in enterprise. We take a first step on researching the impact of culture of Market Orientation on financial management. The next Market Orientation's three core activities (market information generation, dissemination and responsiveness). Finally, we research financial management innovation across four different aspects of the financial management, and thereby show the consequences of financial management innovation more than previous studies.