The Impact of Corporate Financialisation Motives on Industrial Investment

Guohui Hu () and Wenqing Duan ()
Additional contact information
Guohui Hu: Wuhan University of Technology
Wenqing Duan: Wuhan University of Technology

A chapter in Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024), 2024, pp 579-587 from Springer

Abstract: Abstract Based on the annual panel data of A-share listed companies from 2010 to 2021, a fixed-effects model is applied to study the relationship between corporate financialization motives and industrial investment. The results show that corporate financialization is motivated by speculation and profit-seeking, and has a crowding-out effect on industrial investment, which is more significant in highly financialized enterprises and state-owned enterprises. Fintech strengthens the speculative and profit-seeking motives and crowding-out effect by increasing the return on financial investment; on the other hand, although the development of Fintech can alleviate the financing constraints of enterprises, it cannot increase the industrial investment of enterprises.

Keywords: Corporate financialization; industrial investment; fintech (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-459-4_66

Ordering information: This item can be ordered from
http://www.springer.com/9789464634594

DOI: 10.2991/978-94-6463-459-4_66

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().