文献类型：期刊文献

英文题名：The Role of Financial Flexibility in Sustainable Development Performance of SRDI Enterprises

作者：An, Yuxiang[1];Sheng, Xiaojuan[2];Zhu, Xiaowei[3];Zhang, Qiyue[4]

第一作者：An, Yuxiang

通讯作者：Sheng, XJ[1]

机构：[1]Beijing Jiaotong Univ, Sch Econ & Management, Beijing 100044, Peoples R China;[2]Beijing Union Univ, Sch Management, Beijing 100101, Peoples R China;[3]West Chester Univ, Coll Business & Publ Management, W Chester, PA 19383 USA;[4]Natl Lib China, Beijing 100081, Peoples R China

第一机构：Beijing Jiaotong Univ, Sch Econ & Management, Beijing 100044, Peoples R China

通讯机构：[1]corresponding author), Beijing Union Univ, Sch Management, Beijing 100101, Peoples R China.|[1141755]北京联合大学管理学院;[11417]北京联合大学;

年份：2024

外文期刊名：JOURNAL OF SYSTEMS SCIENCE AND SYSTEMS ENGINEERING

收录：;EI(收录号：20244717396341);Scopus(收录号：2-s2.0-85209363814);WOS:【SCI-EXPANDED(收录号:WOS:001357630800001)】；

语种：英文

外文关键词：Financial flexibility; sustainable development performance; SRDI enterprises

摘要：Financial flexibility, due to its capability in optimizing resource allocation, enhancing operational efficiency, and responding to market changes, has become a crucial strategy for "specialized, refined, differentiated, and innovative" (SRDI) enterprises to address financing difficulties and cash flow management pressures, thereby achieving sustainable development. This study, based on financial flexibility theory, conducts an empirical analysis using data from China's listed SRDI enterprises from 2016 to 2023. The results show that there is an inverted U-shaped relationship between financial flexibility and corporate sustainable development performance. Heterogeneity analysis indicates that the impact of financial flexibility on sustainable development performance varies significantly under different ownership structures and dimensions. This study not only enriches the theory of financial flexibility but also reveals its complex impact mechanisms within SRDI enterprises, providing practical guidance and data support for enterprises to achieve sustainable development in a complex market environment.