Abstract
This study empirically investigated the role played by government policy in the financial industry in promoting sustainable innovation, business performance, and risk management. An original dataset, comprising data from the Taiwan Economic Journal (TEJ), Taiwan Patent Search System, and company annual reports from the period 2015–2019 was used to analyze the effects of government policy on the financial industry in Taiwan. The research results showed that a firm’s sustainable commitment is conducive to its business growth and does not increase its risk in the financial industry. The financial industry can report on FinTech news that highlights business growth, while companies with high capital adequacy rates are better equipped to manage the risks associated with innovation commitment. Financial companies are suggested to engage in sustainable innovation and thus improve their profitability. In addition, policymakers should mandate that financial companies increase their capital adequacy ratios, improve their risk-bearing capacity, and maintain financial market stability.
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