, furthermore, to liquidity, which shows that the regional innovation system in China has been functioning relatively well to induce … the intelligent manufacturing industries in China has been established for statistical analysis. Using Structural Equation … endogenous factors. We find that innovation efforts mainly led by increasing investment in Research & Development (R&D), along …

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 … of production, which eventually reduces the firm's probability of conducting product innovation. The theoretical …