The Impact of Financial Innovation on Corporate Risk Management with Emphasis on the Moderating Role of Financing Constraints

Document Type : Research

Authors
mohammad norouzi 1
Farhad Azizi 2
Vahid oskou 3
1 Assistant Professor, Lecturer, Accounting Department, Gonbad-Kavoos University, Gonbad-Kavoos, Golestan, Iran
2 Department of Accounting, Safadasht Branch, Islamic Azad University, Tehran, Iran.
3 Department of Administrative Sciences and Economics, Faculty of Humanities and Sports Sciences, Gonbad Kavous University, Gonbad Kavous, Iran
10.22034/smajournal.2025.519378.1016
Abstract
Development theory emphasizes the efficient use of economic resources in the economy, because the optimal use of economic resources translates into productive investment, which ultimately leads to sustainable economic growth. The development of financial innovations in the economy with technology creates changes and greater efficiency in financial institutions that can provide better financial products and services. Financial market transactions and the use of derivative instruments are closely related to the daily business activities of companies. As an important part of business operations, organizational risk management is affected by financial innovations. Financial innovations can improve the return on investment and stability of companies, making it easier for them to refinance and manage financial risks. Therefore, based on this argument, the purpose of the present study is to investigate the effect of financial innovation on risk management of companies listed on the Tehran Stock Exchange using a sample of 167 companies during the period 1394 to 1402. The results of the research findings show that financial innovation improves organizational risk management. Also, in accordance with the second hypothesis of the research, financing constraints have an interactive effect on the relationship between financial innovation and organizational risk management.

Keywords

Subjects

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