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Authors: Sen Wang and Hong Wang

Affiliation: Department of Accounting and Corporate Finance, Business School of Sichuan University, Chengdu, Sichuan, China

Keyword(s): Corporate Financialization, Financing Constraints, State Ownership.

Abstract: The improvement of corporate financialization is of great significance for enterprises to ease financing constraints. Based on the non-financial industry data of China’s listed companies from 2007 to 2020, this paper explores the impact of corporate financialization on corporate financing constraints based on the moderating effect of state ownership. In order to test the impact of corporate financialization on financing constraints, this paper adopts the fixed effect model and controls the corresponding variables. In the robustness test, the lag variable and the Change model are adopted, and the results remain unchanged, indicating that the improvement of corporate financialization can alleviate the financing constraints faced by enterprises. The empirical study finds that the improvement of corporate financialization can relieve the financing constraints faced by enterprises and improve the financing ability of enterprises. In the sample of non-state-owned enterprises, the effect of corporate financialization on the alleviation of financing constraints is more obvious. (More)

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Paper citation in several formats:
Wang, S. and Wang, H. (2023). Corporate Financialization and Corporate Financing Constraints in Non-Financial Companies of Listed Companies in China based on Experimental and Mathematical Statistics Analysis. In Proceedings of the 1st International Conference on Public Management, Digital Economy and Internet Technology - ICPDI; ISBN 978-989-758-620-0, SciTePress, pages 659-664. DOI: 10.5220/0011754100003607

@conference{icpdi23,
author={Sen Wang and Hong Wang},
title={Corporate Financialization and Corporate Financing Constraints in Non-Financial Companies of Listed Companies in China based on Experimental and Mathematical Statistics Analysis},
booktitle={Proceedings of the 1st International Conference on Public Management, Digital Economy and Internet Technology - ICPDI},
year={2023},
pages={659-664},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011754100003607},
isbn={978-989-758-620-0},
}

TY - CONF

JO - Proceedings of the 1st International Conference on Public Management, Digital Economy and Internet Technology - ICPDI
TI - Corporate Financialization and Corporate Financing Constraints in Non-Financial Companies of Listed Companies in China based on Experimental and Mathematical Statistics Analysis
SN - 978-989-758-620-0
AU - Wang, S.
AU - Wang, H.
PY - 2023
SP - 659
EP - 664
DO - 10.5220/0011754100003607
PB - SciTePress

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