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Managerial ownership and corporate financialization

Author

Listed:
  • Zhang, Yongle
  • Zhang, Haoliang
  • Yang, Liming
  • Xu, Pengjie

Abstract

The article selects A-share non-financial listed companies from 2012 to 2021 as a research sample to analyze the relationship between executive ownership and corporate financialization. It is found that executive ownership inhibits corporate financial investment; compared to the proportion of short-term financial asset holdings, a rise in executive ownership has a more pronounced effect on the reduction of the proportion of long-term financial asset holdings; the higher the proportion of executive ownership, the lower the reduction of the proportion of financial asset holdings in state-owned enterprises than in private enterprises.

Suggested Citation

  • Zhang, Yongle & Zhang, Haoliang & Yang, Liming & Xu, Pengjie, 2023. "Managerial ownership and corporate financialization," Finance Research Letters, Elsevier, vol. 58(PD).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pd:s1544612323010541
    DOI: 10.1016/j.frl.2023.104682
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