Research on the Relationship between Enterprise Financialization and Credit Acquisition

Yuemei Zhang

《Frontiers in Economics and Management》 2卷3期 (2021/03) Pp. 91-103

https://doi.org/10.6981/FEM.202103_2(3).0013

摘要

This article selects the panel data of A-share listed companies in Shanghai and Shenzhen stock exchanges from 2009 to 2018 to explore the impact of the financialization of entities on credit acquisition. After considering the endogenous factors, the study found that corporate financialization will significantly reduce the access to credit resources. The test of the mechanism shows that corporate financialization reduces the ability to obtain credit more obviously in private enterprises and regions with a high degree of marketization. The research conclusions of this article provide empirical evidence for the economic consequences of the development of corporate financialization, and have important enlightenment for the decision-making of the financial development of real enterprises.

關鍵字

Enterprise Financialization ； Credit Acquisition

參考文獻

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