Corporate financialization and overseas investment efficiency: Evidence from China

被引：0
|
作者：
Liu, Yang [1 ]
Liang, Yanzi [2 ]
Lan, Shanshan [1 ]
Lu, Zheng [1 ]
机构：
[1] Guangxi Univ, Nanning 530004, Peoples R China
[2] Shanghai Lixin Univ Accounting & Finance, Shanghai 201620, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 69卷
基金：
中国国家自然科学基金;
关键词：
Financialization; Overseas; Investment efficiency;
D O I：
10.1016/j.frl.2024.106103
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines the relationship between corporate financialization and outbound investment effectiveness based on empirical data from Chinese companies listed on the Shanghai and Shenzhen Stock Exchanges from 2010 to 2022. The study finds that corporate financialization greatly improves investment efficiency by alleviating financial constraints and reducing operating costs. The study provides insight into the implications of financialization for firms' investment efficiency in foreign markets and generates significant guidance for practitioners.
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页数：7
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