{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,6,13]],"date-time":"2025-06-13T04:05:22Z","timestamp":1749787522640,"version":"3.41.0"},"reference-count":0,"publisher":"Asociatia de Geografie, Turism si Sport","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["GTG"],"published-print":{"date-parts":[[2025,6,30]]},"abstract":"<jats:p>Sustainability, as defined by the United Nations' 17 Sustainable Development Goals (SDGs), necessitates responsible\ncorporate practices that enhance long-term value and attract investors seeking sustainable performance. This study examines the\ncausal relationship between investment in innovation and financial sustainability, an area where prior research remains\ninconclusive. The sample consists of 51 companies listed on the PSI (Portugal) and IBEX-35 (Spain) indices between 2011 and\n2022. To analyse this relationship, the study employs multiple linear regression models with panel data, ensuring robust\nstatistical inference. The Hausman test determined that a fixed-effects least squares approach was the most appropriate estimation\nmethod. Key findings indicate that financial sustainability positively influences innovation investment when lagged by one and\ntwo periods, but not in the current period. This suggests that investors and financiers require time to evaluate financial stability\nbefore allocating funds to innovation. Conversely, investment in innovation significantly impacts financial sustainability but in a\ndynamic and time-dependent manner. In the current and previous periods, the effect is negative, indicating that initial innovation\nexpenditures might strain financial resources. However, two periods later, the impact becomes positive, reflecting the long-term\nbenefits of innovation on financial health. Macroeconomic factors also play a role. Gross Domestic Product (GDP) significantly\naffects both financial sustainability and innovation investment, emphasizing the broader economic context in corporate decisionmaking. However, company size does not show a significant impact, suggesting that the innovation-finance relationship is not\nnecessarily dependent on firm scale. Profitability indicators, such as return on assets (ROA) and return on equity (ROE),\npositively influence financial sustainability. However, they do not appear to drive investment in innovation, implying that firms\ndo not directly reinvest profits into R&amp;D. These findings offer important implications for managers, investors, and policymakers,\nadvocating for strategies that balance financial sustainability with innovation investment. Aligning corporate policies with the\nUN SDGs can promote sustainable development, ensuring long-term economic resilience and environmental responsibility.<\/jats:p>","DOI":"10.30892\/gtg.59235-1467","type":"journal-article","created":{"date-parts":[[2025,6,12]],"date-time":"2025-06-12T10:33:18Z","timestamp":1749724398000},"page":"911-919","source":"Crossref","is-referenced-by-count":0,"title":["THE RELATIONSHIP BETWEEN INVESTMENT IN INNOVATION AND FINANCIAL SUSTAINABILITY: AN EMPIRICAL STUDY OF COMPANIES IN THE IBERIAN PENINSULA"],"prefix":"10.30892","volume":"59","author":[{"name":"Lusiada University, Economics and Business Sciences, Vila Nova de Famalic\u00e3o, Portugal","sequence":"first","affiliation":[]},{"given":"Isabel","family":"OLIVEIRA","sequence":"first","affiliation":[]},{"given":"Jorge","family":"FIGUEIREDO","sequence":"additional","affiliation":[]},{"name":"Lusiada University, Economics and Business Sciences, Vila Nova de Famalic\u00e3o, Portugal","sequence":"additional","affiliation":[]},{"given":"Maria Nascimento","family":"CUNHA","sequence":"additional","affiliation":[]},{"name":"ISMT \u2013 Miguel Torga Higher Institute, Coimbra, Portugal; CIAC \u2013 Arts and Communication Research Centre, Algarve, Portugal","sequence":"additional","affiliation":[]},{"given":"Maria Jos\u00e9","family":"FARIA","sequence":"additional","affiliation":[]},{"name":"Lusiada University, Economics and Business Sciences, Vila Nova de Famalic\u00e3o, Portugal","sequence":"additional","affiliation":[]},{"given":"Manuel","family":"PEREIRA","sequence":"additional","affiliation":[]},{"name":"Polytechnic Institute of Viana do Castelo, Viana do Castelo, Portugal","sequence":"additional","affiliation":[]},{"given":"Ant\u00f3nio","family":"CARDOSO","sequence":"additional","affiliation":[]},{"name":"University Fernando Pessoa, Business Sciences, Porto, Portugal","sequence":"additional","affiliation":[]}],"member":"12346","published-online":{"date-parts":[[2025,6,30]]},"container-title":["Geojournal of Tourism and Geosites"],"original-title":[],"deposited":{"date-parts":[[2025,6,12]],"date-time":"2025-06-12T10:33:18Z","timestamp":1749724398000},"score":1,"resource":{"primary":{"URL":"https:\/\/gtg.webhost.uoradea.ro\/PDF\/GTG-2-2025\/gtg.59235-1467.pdf"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,6,30]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2025,6,30]]},"published-print":{"date-parts":[[2025,6,30]]}},"URL":"https:\/\/doi.org\/10.30892\/gtg.59235-1467","relation":{},"ISSN":["2065-0817","2065-1198"],"issn-type":[{"value":"2065-0817","type":"print"},{"value":"2065-1198","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,6,30]]}}}