This paper investigates how financial constraints affect a firm's decision on whether to conduct product innovation. Theoretically, we show that a firm's optimal decision on product innovation is a function of its past decision, financial constraints and a set of control variables. Through...

This study focuses on the mediation channels through which the financial performance of intelligent manufacturing industries closely related to the Fourth Industrial Revolution has been affected. Along with compiling a massive volume of datasets publicized by the Chinese government and other...