Investigate asymmetric effects of innovation index on business diversification index in selected listed companies in Iranian capital market: Fixed effects approach and Quantile regression
نویسندگان
1 Department of Accounting, Ahvaz Branch, Islamic Azad University, Ahvaz, Iran
2 Department of Accounting, Ahvaz Branch, Islamic Azad University, Ahvaz, Iran
3 Department of Accounting, Ahvaz Branch, Islamic Azad University, Ahvaz, Iran
4 Department of Accounting and Management, Shahriar Branch, Islamic Azad University, Shahriar, Iran
5 Department of Management, Semnan Branch, Islamic Azad University, Semnan, Iran
doi
10.22075/ijnaa.2023.31349.4617چکیده
Currently, innovation in business models is considered corporate architecture. Innovation in business models shows how companies can take new approaches to develop their business. Companies can facilitate the entrepreneurship process by considering the innovations in their business model based on their capabilities. This will play a prominent role in designing and explaining the business model dynamics. This article investigates the effects of the innovation index on the business diversification index in selected listed companies in the Iranian capital market with the quantile regression approach from 2013 to 2019. The results of this study showed the positive and significant impact of the innovation index on business diversity in all three groups of competitive, concentrated, and semi-concentrated industries, but this effect was stronger among competitive industries. Also, the results of this study indicate the asymmetric effect of the innovation index in competitive and semi-centralized industries and the symmetrical effect of the innovation index in centralized industries.
