IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v61y2024ics1544612323012928.html
   My bibliography  Save this article

Credit markets, strict financial regulation, and the financialization of listed firms

Author

Listed:
  • Jiang, Yiyun
  • Wang, Xiufeng
  • Sam, Toong Hai

Abstract

Real entities in China have increasingly shown characteristics of financialization due to the economic crisis and overcapacity. However, there are few scholars to explore the intricacies of the credit market and its influence on corporate financialization, leading to ambiguity in the current comprehension. This paper conducts an empirical analysis to examine the influence of credit markets on corporate financialization based on A-share listed firms spanning 2008 to 2021, providing practical suggestions for businesses.

Suggested Citation

  • Jiang, Yiyun & Wang, Xiufeng & Sam, Toong Hai, 2024. "Credit markets, strict financial regulation, and the financialization of listed firms," Finance Research Letters, Elsevier, vol. 61(C).
    • Handle: RePEc:eee:finlet:v:61:y:2024:i:c:s1544612323012928
    DOI: 10.1016/j.frl.2023.104920
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612323012928
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2023.104920?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pengpeng Yue & Aslihan Gizem Korkmaz & Zhichao Yin & Haigang Zhou, 2022. "The rise of digital finance: Financial inclusion or debt trap," Papers 2201.09221, arXiv.org.
    2. Zhu, Zongyuan, 2018. "Safety promise, moral hazard and financial supervision: Evidence from peer-to-peer lending," Finance Research Letters, Elsevier, vol. 27(C), pages 1-5.
    3. Ye, Xiang & Yue, Pengpeng, 2023. "Financial literacy and household energy efficiency: An analysis of credit market and supply chain," Finance Research Letters, Elsevier, vol. 52(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Guan, Yu & Wei, Qing, 2024. "Financial cycles and corporate financialization levels—Evidence from the cultural industry enterprises," Finance Research Letters, Elsevier, vol. 67(PB).
    2. Yu, Ze & Zhao, Xiuli & Sun, Licheng, 2024. "Does supply chain voice influence firms’ investment preferences?," Finance Research Letters, Elsevier, vol. 69(PA).
    3. Chen, Guangren & Yu, Zuwei, 2024. "Digital finance, value cocreation, and supply chain resilience: Evidence from listed manufacturing firms in China," Finance Research Letters, Elsevier, vol. 70(C).
    4. Zhang, Xin & Shi, Chenxiao, 2025. "How does Environmental Protection Tax Law affect corporate investment preferences?," Finance Research Letters, Elsevier, vol. 72(C).
    5. Wang, Jingzheng & Qin, Xiaoli, 2024. "Tax reduction incentive and corporate financialization," Finance Research Letters, Elsevier, vol. 62(PB).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Xu, Dandan & Guo, Dongli & Yue, Pengpeng & Li, Mengshi, 2024. "Household green consumption: Does digital inclusion matter?," International Review of Financial Analysis, Elsevier, vol. 91(C).
    2. He, Wei & Ling, Wenhao & Chen, Ziyi, 2025. "Financial literacy, old-age dependency ratio and household fraud risk," Finance Research Letters, Elsevier, vol. 75(C).
    3. Wang, Xinjian & Ding, Yihao & Dong, Qiang & Sun, Shuai & Chen, Zhixiao, 2025. "Impact of digital divide on household consumption: Role of mental health and happiness," International Review of Economics & Finance, Elsevier, vol. 99(C).
    4. Li, Qianqian & Zhao, Zhengtang & Chen, Tingting, 2024. "The effect of public pension insurance integration on income disparities between urban-rural households: Evidence from a quasi-experiment in China," Finance Research Letters, Elsevier, vol. 66(C).
    5. Tang, Chaoli & Dong, Shuyun & Zhou, Rui, 2025. "The impact of digitalization on corporate resilience," International Review of Economics & Finance, Elsevier, vol. 97(C).
    6. Wang, Pengcheng & Yang, Xuelin, 2024. "Social trust and household financial decision-making: An empirical study based on the usage of household financial technology," Finance Research Letters, Elsevier, vol. 70(C).
    7. Xu, Zhiyi & Yang, Jindi, 2025. "Impact of digital finance on rural industry revitalization," International Review of Economics & Finance, Elsevier, vol. 97(C).
    8. Pankaj C. Patel & Mike G. Tsionas, 2022. "Learning‐by‐lending and learning‐by‐repaying: A two‐sided learning model for defaults on Small Business Administration loans," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(4), pages 906-919, June.
    9. Liang, Guibao & Xia, Qiao & Zhang, Lijie, 2025. "Nonlinear influence of digital finance on green economic efficiency," International Review of Financial Analysis, Elsevier, vol. 101(C).
    10. Liang, Yinhe & Liu, Xi & Yu, Sitian, 2025. "Education and energy poverty: Evidence from China's compulsory education law," Energy, Elsevier, vol. 314(C).
    11. Chen, Guangren & Yu, Zuwei, 2024. "Digital finance, value cocreation, and supply chain resilience: Evidence from listed manufacturing firms in China," Finance Research Letters, Elsevier, vol. 70(C).
    12. Zhou, Jun & Korkmaz, Aslihan Gizem & Li, Youwei & Yue, Pengpeng & Yan, Yuhan, 2025. "The sword of damocles: Debt and depression," International Review of Financial Analysis, Elsevier, vol. 98(C).
    13. Yin, Zhichao & Wang, Rui & Wu, Xi, 2023. "Financial inclusion, natural disasters and energy poverty: Evidence from China," Energy Economics, Elsevier, vol. 126(C).
    14. Zheng, Xiaxuan & Chen, Yueyan, 2024. "Does supply-chain-finance help to improve the efficiency of outward foreign direct investment?," Finance Research Letters, Elsevier, vol. 59(C).
    15. Gao, Jie & Jin, Xingye & Li, Tao & Nguyen, Thithuha, 2025. "The effect of digital technology adoption on managerial myopia: An empirical discovery based on machine Learning," International Review of Economics & Finance, Elsevier, vol. 98(C).
    16. Sara Fernández‐López & Marcos Álvarez‐Espiño & Lucía Rey‐Ares & Sandra Castro‐González, 2024. "Consumer financial vulnerability: Review, synthesis, and future research agenda," Journal of Economic Surveys, Wiley Blackwell, vol. 38(4), pages 1045-1084, September.
    17. Wu, Keyu & Zheng, Kaixin, 2025. "Tax incentives, supply chain spillovers, and enterprise technological innovation," International Review of Financial Analysis, Elsevier, vol. 99(C).
    18. Yang, Wen & Zhao, Keqing, 2024. "Cross-border capital flows and low-carbon economic development: Examining the impact of foreign shareholding," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    19. Wei Yu & Huiqin Huang & Xinyan Kong & Keying Zhu, 2023. "Can Digital Inclusive Finance Improve the Financial Performance of SMEs?," Sustainability, MDPI, vol. 15(3), pages 1-16, January.
    20. Zhu, Lijun, 2025. "The influence of digital transformation on Chinese firms' outward foreign direct investment," Finance Research Letters, Elsevier, vol. 72(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:61:y:2024:i:c:s1544612323012928. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.