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

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  • 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
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    References listed on IDEAS

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    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).
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    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. Li, Sijing & Yin, Yingkai & Jiao, Zeyan & Zhao, Qiuyun, 2025. "Financial investment and green development: How does financialization affect green total factor productivity?," Finance Research Letters, Elsevier, vol. 78(C).
    5. Wang, Jingzheng & Qin, Xiaoli, 2024. "Tax reduction incentive and corporate financialization," Finance Research Letters, Elsevier, vol. 62(PB).
    6. Zhang, Xin & Shi, Chenxiao, 2025. "How does Environmental Protection Tax Law affect corporate investment preferences?," Finance Research Letters, Elsevier, vol. 72(C).

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