Hai, Benlu; Yin, Ximing; Xiong, Jie; Chen, Jin - In: Financial innovation : FIN 8 (2022), pp. 1-26
address the crucial role of financial constraints in the relationship between innovation output and financial performance. We … argue that the liability of newness differentiates firms' financial performance during the commercialization of innovation …, leading to a U-shaped relationship between firms' innovation output and financial performance. We further document the …