Study on the Influence of Financialization of Manufacturing Enterprises on Total Factor Productivity
- DOI
- 10.2991/assehr.k.200401.081How to use a DOI?
- Keywords
- financialization, manufacturing, total factor productivity
- Abstract
Based on the trend of enterprise financialization in China and the real economy dematerialization to virtual, this paper selected the data of listed manufacturing companies in China from 2009 to 2018 to empirically test the impact of financialization of real enterprises on total factor productivity. The results show that the effect of financialization on TFP is negative. By grouping and regression of enterprise nature, it is found that, compared with state-owned enterprises, the financialization of non-state-owned enterprises has a more significant impact on total factor productivity. It is found that compared with the western region, the financialization of the eastern region and the central region has a more significant impact on the total factor productivity. This paper puts forward some practical measures for enterprises to define their positioning, coordinate the relationship between their main business and financial investment, and increase the guidance of the investment of enterprise capital.
- Copyright
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Ruibo Liu AU - Xiao Wei PY - 2020 DA - 2020/04/06 TI - Study on the Influence of Financialization of Manufacturing Enterprises on Total Factor Productivity BT - Proceedings of the International Conference on Education, Economics and Information Management (ICEEIM 2019) PB - Atlantis Press SP - 388 EP - 395 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.200401.081 DO - 10.2991/assehr.k.200401.081 ID - Liu2020 ER -