Human capital accumulation, technological progress, and corporate financialization

Zixuan Dong, Mohd Faiq Abd Aziz and Yan Wang

International Review of Economics & Finance, 2025, vol. 101, issue C

Abstract: This study selects data from listed companies between 2008 and 2022 as the research sample, delving into the interrelationships among human capital accumulation, technological progress, and corporate financialization. The empirical results indicate the following: First, human capital accumulation promotes corporate financialization. Second, technological progress also facilitates the process of corporate financialization. Moreover, technological progress serves as a mediating factor in the relationship between human capital accumulation and corporate financialization. Additionally, the impact of human capital accumulation on corporate financialization shows no significant difference between state-owned enterprises (SOEs) and private enterprises (PEs). Similarly, the effect of technological progress on corporate financialization does not exhibit notable differences between SOEs and PEs. Finally, the influence of human capital accumulation on corporate financialization demonstrates a scale threshold effect.

Keywords: Human capital accumulation; Technological progress; Corporate financialization (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1059056025003983
Full text for ScienceDirect subscribers only

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:eee:reveco:v:101:y:2025:i:c:s1059056025003983

DOI: 10.1016/j.iref.2025.104235

Access Statistics for this article

International Review of Economics & Finance is currently edited by H. Beladi and C. Chen

More articles in International Review of Economics & Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().