Proceedings of the 2024 2nd International Conference on Digital Economy and Management Science (CDEMS 2024)

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The Impact of Corporate Financialization Deviation on Corporate Financial Stability

Authors
Jinlin Tan1, *
1College of Economics and Institute of Finance, Jinan University, Guangdong, 510632, China
*Corresponding author. Email: tanjinlinTJL@126.com
Corresponding Author
Jinlin Tan
Available Online 29 August 2024.
DOI
10.2991/978-94-6463-488-4_39How to use a DOI?
Keywords
Corporate Financialization; Deviation of Financialization; Financial Stability
Abstract

Against the backdrop of a cooling real economy, the financialization tendency of non-financial enterprises has been growing. It is of great significance for maintaining the healthy and stable development of enterprises to reasonably define the appropriate level of corporate financialization and guide enterprises to properly and reasonably allocate financial assets. This paper measures the appropriate level of corporate financialization, constructs an index for the deviation of corporate financialization, and uses data from non-financial and non-real estate listed companies from 2013 to 2022 to test the impact of the deviation of financialization on corporate financial stability. The paper finds that the effect operates through the financing constraint channel. In addition, the paper also finds that loose monetary policy will enhance the adverse impact of the deviation of financialization on corporate financial stability.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2024 2nd International Conference on Digital Economy and Management Science (CDEMS 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
29 August 2024
ISBN
978-94-6463-488-4
ISSN
2352-5428
DOI
10.2991/978-94-6463-488-4_39How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jinlin Tan
PY  - 2024
DA  - 2024/08/29
TI  - The Impact of Corporate Financialization Deviation on Corporate Financial Stability
BT  - Proceedings of the 2024 2nd International Conference on Digital Economy and Management Science (CDEMS 2024)
PB  - Atlantis Press
SP  - 353
EP  - 361
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-488-4_39
DO  - 10.2991/978-94-6463-488-4_39
ID  - Tan2024
ER  -