Dual Innovation,Financial Flexible And Enterprise Performance

Economic and cultural international exchanges are further enhanced,the political situation is changing day by day,and trade frictions occur from time to time.At the same time,China has stepped into a new stage of comprehensive economic and social transformation,and the form of economic development has been stable and good,but there are still major issues of industrial structure transformation and adjustment of economic structure,in order to realize the comprehensive transformation from factor-driven to innovation-driven.The innovation investment of enterprises has a profound impact on the competitiveness of enterprises.Dual innovation divides innovation activities into development innovation and exploratory innovation.The two are different in innovation input and spillover effect,providing new ideas for enterprises to formulate their own innovation strategies.In addition,with the outbreak of COVID-19 at the end of 2019 and a series of public health security problems,they have dealt a severe blow to the global economic situation,leaving many companies under great pressure and even going bankrupt in their financial operations.The importance of financial flexibility is gradually emerging.Sufficient financial flexibility reserve can improve the level of dual innovation of enterprises by improving the availability of resources.Based on this,this paper studies enterprise performance from the perspective of dual innovation,and studies the relationship between dual innovation,financial flexibility and enterprise performance from the perspective of the interactive effect between dual innovation and financial flexibility.This paper selects A-share listed companies from 2015 to 2020 as the initial sample,and first discusses the research background and significance,selecting research methods,sorting out the research content and research framework.Second explain dual innovation,financial flexibility and enterprise performance,and between dual innovation and enterprise performance,financial flexibility and enterprise performance and dual innovation and the effect of the existing theoretical basis,review,and analyze the mechanism of action,put forward research hypothesis,again by SPSS and Stata to sample data empirical test,analyze the empirical results and put forward Suggestions.The empirical results show that the influence of dual innovation on enterprise performance is inconsistent,development innovation can promote enterprise performance,while exploratory innovation can inhibit enterprise performance;the significant positive correlation between financial flexibility and enterprise performance,the interaction between dual innovation and financial flexibility,promote the positive effect of development innovation on enterprise performance,and suppress the negative effect of exploratory innovation on enterprise performance.In general,the effect of innovation activities for enterprise performance is not always positive.This paper believes that enterprises should fully consider their spillover effects and uncertainties in their research and development activities,and use funds prudently.