| By: |
Marcus Illmeyer (Pan-European University);
Dietmar Grosch (Pan-European University);
Maria Kittler (Pan-European University);
Pamela Priess (Pan-European University) |
| Abstract: |
In the current competitive market, innovation has become a crucial element for
organizations, willing to grow. Financial management in this regard is playing
a significant role in improving firms' innovation capacity. This research
paper evaluates the impact of financial management components on
innovativeness of Austrian SMEs. Using data of 118 employees from 41 SMEs
operating in Austria, the research finds a significant impact of the financial
management model on firms' innovation. The three components: liquidity,
controlling, and financial literacy are statistically significant is
explaining innovativeness at 1% level. The study suggests focus on the three
financial management constructs in order to improve their innovation
capability and capacity. |
| Keywords: |
innovation capacity,financial management,financial controlling,liquidity,financial literacy,innovativeness |
| Date: |
2017–09–29 |
| URL: |
http://d.repec.org/n?u=RePEc:hal:journl:hal-01724084&r=fle |