Zhang, Guanghong; Lee, Yune - In: International Journal of Financial Studies : open … 9 (2021) 1/15, pp. 1-19
endogenous factors. We find that innovation efforts mainly led by increasing investment in Research & Development (R&D), along … with high liquidity, surely lead to good financial performance, whereas innovation efforts alone do not. Government support … common channel of R&D investment. Regional innovation capability has been revealed to be related to R&D investments, and …