The Innovation Effect of Corporate Investment in Sports and Health: Based on the Empirical Evidence from Sporting Activities Organized by Enterprises

Abstract

Abstract: Under the background of“healthy China”strategy, enterprises have become the important subject of national health. Making researches on their investments in health has important theoretical significance and practical value, especially when their investments in sports and health relate to high-level innovations. This paper chooses the relevant texts concerning sporting activities organized by listed companies to test the impact of their investments in sports and health on corporate innovation. The findings show that the investments of enterprise in sports and health is positively correlated with innovation output. The result of a mechanism test shows that the innovation effect path of enterprises' investments in sports and health is mainly to enhance the physical and mental health level of their employees and reduce the employees' fear of difficulties. It is found through further tests that the investments of enterprises in sports and health can promote both the invention patents and utility model patents, that is, the investments in sports and health is conducive to improving the quality of innovations; the wider the coverage of the sporting activities organized by enterprises, the more innovative outputs of enterprises will be. Therefore, enterprises should regard their investments in sports and health as an important strategy, and the government should also provide policy guidance for enterprises to strengthen their investments in sports and health, so as to further promote the implementation of “healthy China”strategy and innovation-driven development strategy.

Key words: investments in sports and health, implementation of innovative output, implementation of human capital

XIONG Lingyun, YANG Lijuan. The Innovation Effect of Corporate Investment in Sports and Health: Based on the Empirical Evidence from Sporting Activities Organized by Enterprises[J]. JOURNAL OF CONTEMPORARY FINANCE AND ECONOMICS, 2022, 0(2): 88-101.

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