Managerial ownership and corporate financialization

Yongle Zhang, Haoliang Zhang, Liming Yang and Pengjie Xu

Finance Research Letters, 2023, vol. 58, issue PD

Abstract: The article selects A-share non-financial listed companies from 2012 to 2021 as a research sample to analyze the relationship between executive ownership and corporate financialization. It is found that executive ownership inhibits corporate financial investment; compared to the proportion of short-term financial asset holdings, a rise in executive ownership has a more pronounced effect on the reduction of the proportion of long-term financial asset holdings; the higher the proportion of executive ownership, the lower the reduction of the proportion of financial asset holdings in state-owned enterprises than in private enterprises.

Keywords: Corporate financialization; Financial asset allocation; Executive shareholding incentives (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pd:s1544612323010541

DOI: 10.1016/j.frl.2023.104682

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