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The impact of CEO marital status on corporate financialization

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  • Chen, Shihua
  • Wang, Cuifang

Abstract

This paper explores the impact of CEO marital status on corporate financialization. Based on empirical analysis using data from Chinese A-share listed companies from 2007 to 2023, the study finds a significant negative association between married CEOs and corporate financialization. Mechanism tests reveal that married CEOs reduce financialization investments by decreasing myopic tendencies and focusing on core business operations. Additionally, heterogeneity analysis shows that this effect varies significantly across CEO gender and different internal/external corporate environments. Overall, the empirical results indicate that CEO marital status plays a critical role in financial decision-making in emerging markets.

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  • Chen, Shihua & Wang, Cuifang, 2025. "The impact of CEO marital status on corporate financialization," International Review of Economics & Finance, Elsevier, vol. 102(C).
    • Handle: RePEc:eee:reveco:v:102:y:2025:i:c:s1059056025004678
    DOI: 10.1016/j.iref.2025.104304
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