ESC
Web of Science
Entrepreneurship and Sustainability Issues Open Access
Scopus - coverage starting with 2017 material
Received: 2017-03-15  |  Accepted: 2017-08-14  |  Published: 2017-09-29

Title

The impact of financial management on innovation


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

financial management, financial controlling, liquidity, financial literacy, innovativeness, innovation capacity


JEL classifications

M11 , M16 , G20 , O10


URI

http://jssidoi.org/jesi/article/133


DOI


HAL


Pages

58-71


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Illmeyer, Marcus
Pan-European University, Bratislava, Slovakia http://www.uninova.sk
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Grosch, Dietmar
Pan-European University, Bratislava, Slovakia http://www.uninova.sk
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Kittler, Maria
Pan-European University, Bratislava, Slovakia http://www.uninova.sk
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Priess, Pamela
Pan-European University, Bratislava, Slovakia http://www.uninova.sk
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

5


Number

1


Issue date

September 2017


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 533  |  PDF downloads: 305

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