Investigating the Effect of Innovation Growth Constructs and Mediating Role of Innovation Challenges on Financial and Economic Performance of Tehran Stock Exchange Companies

According to the modern accounting literature, innovation is a key component of corporate performance. The main objective of this research is to investigate the effect of positive factors (growth) and negativite (challenges) of innovation on financial and economic performance of Tehran Stock Exchange companies. The statistical sample consists of 120 active companies in Tehran Stock Exchange during the period of 1396-1386. In this research, structural equations (PLS) and SPSS have been used to test the hypotheses. The dependent variable of this study is financial performance as well as economic performance. The independent variable of this research is innovation. Also, the role of mediator of innovation challenges in the relationship between innovation and financial and economic performance of the company is examined. The results of the research show that there is a direct effect between innovation structures and financial and economic performance. Also, innovation challenges as a mediating variable posit indirect effects on financial and economic performance, which makes it important to examine the innovation challenges associated with financial and economic performance of the company. The findings suggest that in order to achieve optimal performance, the company must reduce the challenges of innovation, especially the challenges of knowledge and the market.