The Impact of Corporate Financialisation Motives on Industrial Investment

--Analyse the role of fintech and external regulation

DOI

10.2991/978-94-6463-459-4_66How to use a DOI?

Keywords

Corporate financialization; industrial investment; fintech

Abstract

Based on the annual panel data of A-share listed companies from 2010 to 2021, a fixed-effects model is applied to study the relationship between corporate financialization motives and industrial investment. The results show that corporate financialization is motivated by speculation and profit-seeking, and has a crowding-out effect on industrial investment, which is more significant in highly financialized enterprises and state-owned enterprises. Fintech strengthens the speculative and profit-seeking motives and crowding-out effect by increasing the return on financial investment; on the other hand, although the development of Fintech can alleviate the financing constraints of enterprises, it cannot increase the industrial investment of enterprises.

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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TY  - CONF
AU  - Guohui Hu
AU  - Wenqing Duan
PY  - 2024
DA  - 2024/07/23
TI  - The Impact of Corporate Financialisation Motives on Industrial Investment
BT  - Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024)
PB  - Atlantis Press
SP  - 579
EP  - 587
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-459-4_66
DO  - 10.2991/978-94-6463-459-4_66
ID  - Hu2024
ER  -