Mixed ownership and financial investment: Evidence from Chinese state-owned enterprises

Hua Wang, Wei Wang and Shadi Emad Areef Alhaleh

Economic Analysis and Policy, 2021, vol. 70, issue C, 159-171

Abstract: This study empirically examines whether mixed-ownership intensity influences the level of financial investment across state-owned enterprise (SOE) samples, using the hand-collected mixed-ownership data of A-share non-financial listed SOEs from 2003 to 2018 in China. Consistent with the results of the robustness tests, we found that the greater the mixed-ownership intensity, the less the level of financial investment of non-financial SOEs. Furthermore, the cross-sectional analysis confirmed that the negative influence of the mixed-ownership intensity on the level of financial investment was more significant in firms located in the eastern region of China and firms controlled by the local government.

Keywords: Chinese state-owned enterprises; Mixed ownership; Financial investment; Financialization (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:70:y:2021:i:c:p:159-171

DOI: 10.1016/j.eap.2021.02.006

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