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The Impact of Corporate Strategy on Enterprise Innovation Based on the Mediating Effect of Corporate Risk-Taking


  • Rui Li

    () (School of Economics and Management, Beijing Jiaotong University, Beijng 100044, China)

  • Yongmei Cui

    () (School of Economics and Management, Beijing Jiaotong University, Beijng 100044, China)

  • Yajun Zheng

    () (School of Economics and Management, Beijing Jiaotong University, Beijng 100044, China
    School of Economics and Management, East China Jiaotong University, Nanchang 330013, China)


Corporate strategy and enterprise innovation are highly relevant to corporate sustainability. Although previous studies on corporate strategy and enterprise innovation have yielded many results, a consensus regarding the relationship between the two is still lacking. The purpose of this study was to empirically analyze the impact of corporate strategy on corporate innovation performance and analyze corporate risk-taking as a potential factor mediating such. Based on data for listed Chinese A-share manufacturing companies for 2008 to 2018, this empirical study found that corporate strategy and corporate innovation show an inverted U-shaped relationship. Corporate risk-taking plays a mediating effect between corporate strategy and corporate innovation performance. This study expands the knowledge on situational variables and the mechanism by which corporate strategy might impact enterprise innovation and can enlighten managers to promote the sustainable development of manufacturing enterprises.

Suggested Citation

  • Rui Li & Yongmei Cui & Yajun Zheng, 2021. "The Impact of Corporate Strategy on Enterprise Innovation Based on the Mediating Effect of Corporate Risk-Taking," Sustainability, MDPI, Open Access Journal, vol. 13(3), pages 1-17, January.
  • Handle: RePEc:gam:jsusta:v:13:y:2021:i:3:p:1023-:d:483526

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    References listed on IDEAS

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