How Affects Corporate Innovation on Business Investment?

This study examines the impact of corporate innovation on business investments of companies listed on the Korea exchange from 2011 to 2019. We find evidence of a positive relationship between corporate investment and Tobin's average . Greater corporate growth opportunities lead to greater business investments, whereas the expected recovery ratio of debt capital has a negative relationship with corporate investments. The innovation performance variable is positively associated with the investments. Our results are suggestive of business investments being determined by investment outcomes, rather than the financial resource inputs for corporate innovation