Influence of Financial Derivatives on Innovation Behavior of Listed Companies
Based on the Empirical Research of Listed Manufacturing Companies in China
- DOI
- 10.2991/aebmr.k.220307.061How to use a DOI?
- Keywords
- financial derivatives; innovation behavior; sino-US trade friction
- Abstract
In recent years, with the economy of our country gradually transforming from high speed growth to quality development, due to the upgrading sino-US trade friction, the complicated international political relations, the increasing RMB exchange rate volatility and the impact of rising labor costs, many manufacturing listed companies in our country faces various risks, and their innovation behavior have been affected a lot as well. At the same time, with the emergence of financial derivatives, many listed manufacturing companies began to increase capital allocation of financial derivatives to hedge risks, trying to stabilize corporate cash flow, increase investment in R&D innovation. Therefore, this paper takes China’s A-share listed manufacturing companies from 2018 to 2020 as the research object to conduct an empirical study on the relationship between the use of financial derivatives and enterprise innovation behavior of listed manufacturing companies.The results show that:(1) in the context of sino-US trade friction, the use of financial derivatives still has a positive effect on firms’ innovation behavior; (2) If enterprises use financial derivatives for speculative purposes, it will not promote the innovation of enterprises.
- Copyright
- © 2022 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Heng Xiao AU - Yunfei Wu PY - 2022 DA - 2022/03/26 TI - Influence of Financial Derivatives on Innovation Behavior of Listed Companies BT - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) PB - Atlantis Press SP - 383 EP - 388 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.220307.061 DO - 10.2991/aebmr.k.220307.061 ID - Xiao2022 ER -