Short-term cross-border capital flows and corporate financialization

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-02-01 DOI:10.1016/j.frl.2024.106546

Xizhi Zhang , Zixi Wu , Chenxu Xian , Yanjuan Zhang

引用次数: 0

Abstract

This paper selects relevant data from listed manufacturing enterprises in China from 2008 to 2021 as a sample and employs a fixed-effects model to examine the impact of short-term cross-border capital flows on corporate financialization. The study finds that cross-border capital inflows can enhance corporate financialization; when investor sentiment rises, it will, to a certain extent, facilitate the positive effect of short-term cross-border capital inflows on corporate financialization; moreover, the degree of financialization in private enterprises is more significantly influenced by cross-border capital flows.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance