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Corporate internal control, financial mismatch mitigation and innovation performance
1Systems and Industrial Engineering Technology Research Center, Zhongyuan University of Technology, Zhengzhou, Henan, China.
Plos One
|December 27, 2022
Summary
Effective internal control (IC) significantly boosts corporate innovation and reduces financial mismatch, with this mitigation acting as a key mediator. These findings are particularly pronounced in non-state-owned enterprises.
Area of Science:
- Business Administration
- Financial Economics
- Innovation Management
Background:
- Resource allocation optimization theory provides a framework for understanding corporate financial strategies.
- Internal control (IC) and financial mismatch are critical factors influencing corporate technological innovation.
- China's capital market offers a relevant context for examining these relationships.
Purpose of the Study:
- To investigate the joint impact of internal control (IC) and financial mismatch on technological innovation.
- To explore the mediating role of financial mismatch mitigation in the relationship between IC and innovation.
- To analyze differences in these effects between state-owned and non-state-owned enterprises.
Main Methods:
- Utilizing data from listed enterprises in China's capital market (2012-2020).
- Applying econometric models to analyze the mechanisms among IC, financial mismatch, and technological innovation.
- Examining the moderating effects based on enterprise ownership (state-owned vs. non-state-owned).
Main Results:
- Effective internal control (IC) significantly promotes corporate innovation.
- Effective IC also mitigates financial mismatch.
- Financial mismatch mitigation acts as a significant mediator between IC and innovation output.
- The positive effects of IC on innovation and financial mismatch mitigation are more pronounced in non-state-owned enterprises.
Conclusions:
- Improving internal control (IC) effectiveness is crucial for stimulating innovation and optimizing financial resource allocation.
- Facilitating the transmission effect of IC in mitigating financial mismatch can enhance innovation output.
- Coordinated innovation activities across state-owned and non-state-owned enterprises are essential for steady economic development.
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