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Financial geographic structure, Market competition, and corporate financialization

Author

Listed:
  • Zhang, Yudong
  • Wang, Fengwen
  • Zhou, Yunxu
  • Zhao, Nannan

Abstract

Using a data sample from Chinese listed companies between 2007 and 2022, this study analyzes the relationship between financial geographic structure and corporate financialization. Results indicate a notable positive relationship between financial geographic structure and corporate financialization, which is mediated by market competition. Specifically, the financial geographic structure promotes corporate financialization by reducing market competition. Furthermore, heterogeneity analysis shows considerable differences in the impact of financial geographic structure on enterprise financialization in state-owned and nonstate-owned enterprises.

Suggested Citation

  • Zhang, Yudong & Wang, Fengwen & Zhou, Yunxu & Zhao, Nannan, 2025. "Financial geographic structure, Market competition, and corporate financialization," Finance Research Letters, Elsevier, vol. 75(C).
    • Handle: RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325000716
    DOI: 10.1016/j.frl.2025.106806
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    References listed on IDEAS

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