The Impact of Innovation Strategy on the Financial, Social and Environmental Performance 
Hamid Saremi1, Masoud Mahmoudi2, Mojtaba Soltaninezhad3, Mohammad Hosseinpour4
1Hamid Saremi, Financial Engineering Department, Asrar institute of higher education, Mashhad, Iran.
2Masoud Mahmoudi, Accounting Department, Shandiz institute of higher education, Mashhad, Iran.
3Mojtaba Soltaninezhad, Accounting Department, Asrar institute of higher education, Mashhad, Iran.
4Mohammad Hosseinpourh, Ph.d Student Accounting Department, Islamic Azad University, Qaenat, Iran.
Manuscript received on 05 April 2021 | Revised Manuscript received on 25 April 2021 | Manuscript Accepted on 15 May 2021 | Manuscript published on 30 May 2021 | PP: 33-39 | Volume-1 Issue-1, May 2021 | Retrieval Number:100.1/ijef.A2501051121 | DOI: 10.54105/ijef.A2501.051121
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© The Authors. Published by Lattice Science Publication (LSP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The core purpose of this study is to investigate the effect of innovation strategy on financial, social and environmental performance of companies listed on the Tehran Stock Exchange (TSE). The information used is from 129 companies listed on TSE in different industries between 2011 and 2018 (1032 observations). In order to analyze the data, a multivariate regression test was used. The results showed a positive and significant relationship between innovation strategy on financial performance and environmental performance. Also, the relationship between innovation strategy and social performance has a positive but insignificant. Innovation tools are also among the few management tools that can have a positive impact on both financial performance and the company’s environmental performance. In this research, an attempt has been made to look at the idea of innovation from a financial point of view, and its results in the long run indicate the right choice of management to invest in the company’s research and development unit.
Keywords: Innovation Strategy, Financial Performance, Social Performance, Environmental Performance.
Scope of the Article: Financing Business and Accounting