The Interaction of Innovation with Globalization and Institutional Quality on the Financial Wealth

Wealth and its place in countries has always been considered because it is produced with the support of countries's wealth and overshadows other macroeconomic variables. One of the components of wealth is financial wealth, which can affect the pattern of changes in economic variables and affect...

Full description

Bibliographic Details
Main Authors: Abolfazl Shahabadi, Zahra Heidari, Ali Tavassoli Nia
Format: Article
Language:fas
Published: Alzahra University 2024-03-01
Series:راهبرد مدیریت مالی
Subjects:
Online Access:https://jfm.alzahra.ac.ir/article_7643_464793597c83b1850f22508ad5855b5f.pdf
_version_ 1797220174867202048
author Abolfazl Shahabadi
Zahra Heidari
Ali Tavassoli Nia
author_facet Abolfazl Shahabadi
Zahra Heidari
Ali Tavassoli Nia
author_sort Abolfazl Shahabadi
collection DOAJ
description Wealth and its place in countries has always been considered because it is produced with the support of countries's wealth and overshadows other macroeconomic variables. One of the components of wealth is financial wealth, which can affect the pattern of changes in economic variables and affect the consumption, savings, investment and production of countries, and also affect future incomes. Therefore, the purpose of this study is to investigate the interaction of innovation, globalization and the quality of governance institution on financial wealth in the top 48 science-producing countries in the world during the period 2011-2020. For this purpose, the research model has been estimated using integrated data and generalized torque method. The results show that the effect of all indicators of innovation (institutions, human capital and research, infrastructure, market complexity and business complexity) on financial wealth is positive and significant. Also, the interaction of all indicators of innovation, globalization and governance on financial wealth is positive and significant. In addition, the interaction of globalization and governance with the components of innovation on financial wealth is positive and significant. Therefore, it is recommended that the governments of the studied countries with low financial wealth help to increase financial wealth by improving the quality of governance and taking advantage of globalization opportunities and paving the way for improving the components of innovation.
first_indexed 2024-04-24T12:45:21Z
format Article
id doaj.art-032378824e854520a5d937c434334462
institution Directory Open Access Journal
issn 2345-3214
2538-1962
language fas
last_indexed 2024-04-24T12:45:21Z
publishDate 2024-03-01
publisher Alzahra University
record_format Article
series راهبرد مدیریت مالی
spelling doaj.art-032378824e854520a5d937c4343344622024-04-07T05:30:52ZfasAlzahra Universityراهبرد مدیریت مالی2345-32142538-19622024-03-01121476810.22051/jfm.2024.27150.26947643The Interaction of Innovation with Globalization and Institutional Quality on the Financial WealthAbolfazl Shahabadi0Zahra Heidari1Ali Tavassoli Nia2Professor, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran,Ph.D. Student in Economics, Department of Economics, Faculty of Social Sciences and Economics, Alzahra University, Tehran, IranMaster’s in Economics, Faculty of Economic and Administrative Sciences, University of Mazandaran, Babolsar, Iran.Wealth and its place in countries has always been considered because it is produced with the support of countries's wealth and overshadows other macroeconomic variables. One of the components of wealth is financial wealth, which can affect the pattern of changes in economic variables and affect the consumption, savings, investment and production of countries, and also affect future incomes. Therefore, the purpose of this study is to investigate the interaction of innovation, globalization and the quality of governance institution on financial wealth in the top 48 science-producing countries in the world during the period 2011-2020. For this purpose, the research model has been estimated using integrated data and generalized torque method. The results show that the effect of all indicators of innovation (institutions, human capital and research, infrastructure, market complexity and business complexity) on financial wealth is positive and significant. Also, the interaction of all indicators of innovation, globalization and governance on financial wealth is positive and significant. In addition, the interaction of globalization and governance with the components of innovation on financial wealth is positive and significant. Therefore, it is recommended that the governments of the studied countries with low financial wealth help to increase financial wealth by improving the quality of governance and taking advantage of globalization opportunities and paving the way for improving the components of innovation.https://jfm.alzahra.ac.ir/article_7643_464793597c83b1850f22508ad5855b5f.pdffinancial wealthinnovationglobalizationgovernance
spellingShingle Abolfazl Shahabadi
Zahra Heidari
Ali Tavassoli Nia
The Interaction of Innovation with Globalization and Institutional Quality on the Financial Wealth
راهبرد مدیریت مالی
financial wealth
innovation
globalization
governance
title The Interaction of Innovation with Globalization and Institutional Quality on the Financial Wealth
title_full The Interaction of Innovation with Globalization and Institutional Quality on the Financial Wealth
title_fullStr The Interaction of Innovation with Globalization and Institutional Quality on the Financial Wealth
title_full_unstemmed The Interaction of Innovation with Globalization and Institutional Quality on the Financial Wealth
title_short The Interaction of Innovation with Globalization and Institutional Quality on the Financial Wealth
title_sort interaction of innovation with globalization and institutional quality on the financial wealth
topic financial wealth
innovation
globalization
governance
url https://jfm.alzahra.ac.ir/article_7643_464793597c83b1850f22508ad5855b5f.pdf
work_keys_str_mv AT abolfazlshahabadi theinteractionofinnovationwithglobalizationandinstitutionalqualityonthefinancialwealth
AT zahraheidari theinteractionofinnovationwithglobalizationandinstitutionalqualityonthefinancialwealth
AT alitavassolinia theinteractionofinnovationwithglobalizationandinstitutionalqualityonthefinancialwealth
AT abolfazlshahabadi interactionofinnovationwithglobalizationandinstitutionalqualityonthefinancialwealth
AT zahraheidari interactionofinnovationwithglobalizationandinstitutionalqualityonthefinancialwealth
AT alitavassolinia interactionofinnovationwithglobalizationandinstitutionalqualityonthefinancialwealth