The impact of business model innovation on financial performance of petrochemical company

Subject Areas : Journal of Investment Knowledge

Mohammad Fallah ¹ , alireza salamatbakhsh-varjovi ² , ali Pahlevani ³

1 - Department of Industrial Engineering, Islamic Azad University, Central Tehran Branch, Tehran, Iran
2 - Department of Industrial Engineering, Islamic Azad University, Central Tehran Branch, Tehran, Iran
3 - Department of Industrial Engineering, Iran University of Science and Technology, Tehran, Iran

Received: 2020-02-03 Accepted : 2021-07-14 Published : 2021-09-23

Keywords: "Innovation, "Financial Performance", Market Value", "Business Model",

Abstract :

The present study empirically analyzes the impact of business model innovation on financial performance of companies operating in petrochemical industry. The statistical population includes companies listed in Tehran Stock Exchange operating in petrochemical industry during 2011 to 2018. A total of 15 companies are selected as statistical sample. The research method is causal. The related data for theoretical literature section and hypothesis testing are gathered using library method research and financial statement data mining, respectively. Panel data regression models are used to analyze the data. The results indicate materials and equipment supply innovation and product innovation directly and significantly impact on corporate asset returns. However, the impact of marketing innovation on return on assets is not significant. The results also show Q-tobin, as a measure of firm value, is not effected by materials and equipment supply innovation and product innovation , while marketing innovation has a direct and significant effect on corporate market value.

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