Examining the moderating role of managers' and company's risk-taking in the relationship between economic policy uncertainty and innovation in companies

Subject Areas : Jounal of Marketing Management

Fariba Ahmadi Amir Abadi ¹ (Master's student, Department of Accounting, Faculty of Humanities, West Tehran Branch, Islamic Azad University, Tehran, Iran)
Malihe Alifarri ² (Assistant Professor, Department of Accounting, Faculty of Humanities, West Tehran Branch, Islamic Azad University, Tehran, Iran)
Zahra Honarmandi ³ (Assistant Professor, Department of Accounting, Faculty of Humanities, West Tehran Branch, Islamic Azad University, Tehran, Iran)

Received: 2023-09-13 Accepted : 2023-11-20 Published : 2024-07-02

Keywords: leverage, State ownership of firm, economic policy uncertainty, innovation.,

Abstract :

The purpose of the current research is to investigate the effect of uncertainty in economic policies on innovation, and according to the theoretical foundations in this regard, the role of risk taking by managers and the company will also be investigated. The statistical population considered by the researchers in this research was the companies accepted in the Iranian capital market during the period of 1393 to 1400, after the implementation of the systematic elimination sampling method, 1000 companies entered the final sample of the research. The research method used is correlational and causal, and the data collection method is post-event, and the data collection method used in this research is using library methods and databases of the Tehran Stock Exchange Organization. . The type of data used in this research is a panel type and the regression method to implement the research hypotheses is a multivariable type. Five sub-hypotheses in this research have been investigated at the confidence level of 0.95 with stata software. The results of the implementation of the hypotheses show that the uncertainty in economic policies caused by changes such as exchange rates, inflation and bank interest has had destructive effects on the level of innovation in different companies in Iran's capital market, and companies that focus on creativity and Innovations in their products will be more affected by this issue, and further, the results showed that the higher the level of risk-taking of managers in companies, the lower the destructive effects of uncertainty in these issues. Furthermore, it was found that state-owned companies have a moderating role in the mentioned relationship as the company's risk tolerance.

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