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Innovation's influence on working capital management and profitability: a Chinese high-tech manufacturing perspective


Citation

Zhou, Siyu and Amin Noordin, Bany Ariffin and Tunde, Matemilola Bolaji (2024) Innovation's influence on working capital management and profitability: a Chinese high-tech manufacturing perspective. Accounting and Finance. ISSN 0810-5391; eISSN: 1467-629X

Abstract

This study investigates the role of corporate innovation in moderating the impact of working capital management on profitability for a Chinese high-tech manufacturing industry. Using a two-way fixed effect model and subgroup analysis, we found that net working capital (NWC) negatively impacted corporate profitability, while corporate innovation magnified the inverse association between the NWC and profitability. This moderating effect was stronger in non-state-owned enterprises (SOEs) than in SOEs, and different company sizes exhibited varying effects. This study enhances our understanding of the role of corporate innovation financial management and provides valuable insights for innovation research in emerging economies.


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Additional Metadata

Item Type: Article
Divisions: School of Business and Economics
DOI Number: https://doi.org/10.1111/acfi.13315
Publisher: John Wiley and Sons Inc
Keywords: Corporate profitability; High-tech manufacturing industry; Innovation; Working capital management
Depositing User: Mohamad Jefri Mohamed Fauzi
Date Deposited: 31 Jan 2025 03:30
Last Modified: 31 Jan 2025 03:30
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1111/acfi.13315
URI: http://psasir.upm.edu.my/id/eprint/113940
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