The Impact of Financial Asset Allocation of Real Enterprises on Enterprise Value

Zhengchao Zhang and Shuo Zhang ()
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Zhengchao Zhang: Bohai University, School of Economics
Shuo Zhang: Bohai University, School of Economics

A chapter in Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023), 2024, pp 637-643 from Springer

Abstract: Abstract This article examines the effects of real businesses’ financial asset allocation on enterprise value using the Shanghai and Shenzhen A-share listed companies from 2012 to 2021 as the research sample. According to the study, there is an ongoing “inverted U-shaped” relationship between enterprise value and financial asset allocation. The improvement of enterprise value will be hampered by excessive financial asset allocation, whereas moderate financial asset allocation will encourage it. Second, as opposed to state-owned businesses, non-state-owned businesses have a more substantial inverted U-shaped link between financial asset allocation and enterprise value. The conclusion of this paper has certain guiding significance for better promoting the financial services to the real economy and the high-quality development of enterprises.

Keywords: Financial asset; Enterprise value; Nature of the property rights (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-256-9_65

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