Does capital market liberalization enhance overseas market power of investment firms? An empirical study based on Chinese multinational corporations

Xueyi Zhang, Zhongyi Xue and Yiqing Huang

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

Abstract: This study empirically analyzes the 2012–2022 data of Shanghai and Shenzhen A-share investment-oriented listed companies to determine the impact of capital market liberalization on investment firms’ overseas market power. It finds that both capital market liberalization and research and development investment enhance the overseas market power of investment firms. The impact of capital market liberalization varies based on the different ownership properties and life cycles of firms.

Keywords: Capital markets; Investment firms; Overseas market power (search for similar items in EconPapers)
JEL-codes: F21 G31 L20 O15 (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:s1544612324010869

DOI: 10.1016/j.frl.2024.106056

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