Corporate financialization and overseas investment efficiency: Evidence from China

Yang Liu, Yanzi Liang, Shanshan Lan and Zheng Lu

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

Abstract: This study examines the relationship between corporate financialization and outbound investment effectiveness based on empirical data from Chinese companies listed on the Shanghai and Shenzhen Stock Exchanges from 2010 to 2022. The study finds that corporate financialization greatly improves investment efficiency by alleviating financial constraints and reducing operating costs. The study provides insight into the implications of financialization for firms’ investment efficiency in foreign markets and generates significant guidance for practitioners.

Keywords: Financialization; Overseas; Investment efficiency (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:s1544612324011322

DOI: 10.1016/j.frl.2024.106103

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