Does supply chain voice influence firms’ investment preferences?

Ze Yu, Xiuli Zhao and Licheng Sun

Finance Research Letters, 2024, vol. 69, issue PA

Abstract: Using data from Chinese A-share listed companies from 2012 to 2022, this study examines the influence of supply chain voice on firms’ investment preferences. Results reveal a notable increase in this influence, demonstrating how improving communication throughout the supply chain can encourage companies to participate actively in financial investments. Although increasing the supply chain's influence can boost actual investment levels, it cannot stop the process of corporate financialization, as demonstrated by the mechanism test results. Furthermore, the favorable impacts of the supply chain voice on companies’ investment preferences are attained through the cash flow mechanism.

Keywords: Supply chain voice; Investment preference; Corporate financialization (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pa:s1544612324010857

DOI: 10.1016/j.frl.2024.106055

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