Organization Capital and Corporate Financialization: Evidence From China

Yingying Qin, Yishan Zhang, Yu‐en Lin and Jingbo Hu

Managerial and Decision Economics, 2025, vol. 46, issue 3, 1701-1720

Abstract: This paper investigates the impact of organization capital on corporate financialization. Based on the data of Chinese A‐share listed firms from 2014 to 2020, we find that organization capital is positively related to corporate financialization. After a series of robustness tests and endogeneity tests, the conclusion still holds. We further find that agency theory is the potential channel driving our findings. Precautionary savings theory, executive overconfidence theory and resource‐based theory do not hold in our study. Furthermore, we find that the positive effect of organization capital on corporate financialization is stronger when firms are hit by severe external natural disasters shocks.

Date: 2025
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1002/mde.4473

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:wly:mgtdec:v:46:y:2025:i:3:p:1701-1720

Access Statistics for this article

Managerial and Decision Economics is currently edited by Antony Dnes

More articles in Managerial and Decision Economics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().