Organization Capital and Corporate Financialization: Evidence From China
Author
Abstract
Suggested Citation
DOI: 10.1002/mde.4473
Download full text from publisher
References listed on IDEAS
- Demir, FIrat, 2009. "Financial liberalization, private investment and portfolio choice: Financialization of real sectors in emerging markets," Journal of Development Economics, Elsevier, vol. 88(2), pages 314-324, March.
- Tronconi, Claudia & Vittucci Marzetti, Giuseppe, 2011.
"Organization capital and firm performance. Empirical evidence for European firms,"
Economics Letters, Elsevier, vol. 112(2), pages 141-143, August.
- Claudia Tronconi & Giuseppe Vittucci Marzetti, 2010. "Organizational capital and firm performance. Empirical evidence for European firms," Department of Economics Working Papers 1018, Department of Economics, University of Trento, Italia.
- Huang, Jialin & Luo, Yu & Peng, Yuchao, 2021. "Corporate financial asset holdings under economic policy uncertainty: Precautionary saving or speculating?," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 1359-1378.
- Zhao, Yan & Su, Kun, 2022. "Economic policy uncertainty and corporate financialization: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 82(C).
- Leung, Woon Sau & Mazouz, Khelifa & Chen, Jie & Wood, Geoffrey, 2018. "Organization capital, labor market flexibility, and stock returns around the world," Journal of Banking & Finance, Elsevier, vol. 89(C), pages 150-168.
- Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
- Po-Hsuan Hsu & Hsiao-Hui Lee & Shu-Cing Peng & Long Yi, 2018. "Natural Disasters, Technology Diversity, and Operating Performance," The Review of Economics and Statistics, MIT Press, vol. 100(4), pages 619-630, October.
- Hasan, Mostafa Monzur & Uddin, Mohammad Riaz, 2022. "Do intangibles matter for corporate policies? Evidence from organization capital and corporate payout choices," Journal of Banking & Finance, Elsevier, vol. 135(C).
- Hasan, Mostafa Monzur & Lobo, Gerald J. & Qiu, Buhui, 2021. "Organizational capital, corporate tax avoidance, and firm value," Journal of Corporate Finance, Elsevier, vol. 70(C).
- Kevin Aretz & Shantanu Banerjee & Oksana Pryshchepa, 2019. "In the Path of the Storm: Does Distress Risk Cause Industrial Firms to Risk-Shift?," Review of Finance, European Finance Association, vol. 23(6), pages 1115-1154.
- Cui, Huijie & Dai, Lixuan & Zhang, Yanan, 2021. "Organization Capital and Corporate Innovation: Evidence from China," Finance Research Letters, Elsevier, vol. 43(C).
- Qing Li & Hongyu Shan & Yuehua Tang & Vincent Yao, 2024. "Corporate Climate Risk: Measurements and Responses," The Review of Financial Studies, Society for Financial Studies, vol. 37(6), pages 1778-1830.
- Boguth, Oliver & Newton, David & Simutin, Mikhail, 2022. "The Fragility of Organization Capital," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 57(3), pages 857-887, May.
- Roberto Veneziani & Luca Zamparelli & Leila E. Davis, 2017. "Financialization And Investment: A Survey Of The Empirical Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1332-1358, December.
- Daniele Tori & Özlem Onaran, 2018.
"The effects of financialization on investment: evidence from firm-level data for the UK,"
Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(5), pages 1393-1416.
- Tori, Daniele & Onaran, Özlem, 2015. "The effects of financialization on investment: evidence from firm-level data for the UK," Greenwich Papers in Political Economy 14068, University of Greenwich, Greenwich Political Economy Research Centre.
- Tori, Daniele & Onaran, Özlem, 2018. "The effects of financialization on investment: evidence from firm-level data for the UK," Greenwich Papers in Political Economy 18056, University of Greenwich, Greenwich Political Economy Research Centre.
- Daniele Tori & Özlem Onaran, 2016. "The effects of financialization on investment: Evidence from firm-level data for the UK," Working Papers PKWP1601, Post Keynesian Economics Society (PKES).
- Nora Pankratz & Rob Bauer & Jeroen Derwall, 2023. "Climate Change, Firm Performance, and Investor Surprises," Management Science, INFORMS, vol. 69(12), pages 7352-7398, December.
- Andrew Atkeson & Patrick J. Kehoe, 2005.
"Modeling and Measuring Organization Capital,"
Journal of Political Economy, University of Chicago Press, vol. 113(5), pages 1026-1053, October.
- Andrew Atkeson & Patrick J. Kehoe, 2005. "Modeling and measuring organization capital," Staff Report 291, Federal Reserve Bank of Minneapolis.
- He, Zhaozhao, 2018. "Money held for moving stars: Talent competition and corporate cash holdings," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 210-234.
- Hasan, Mostafa Monzur & Cheung, Adrian (Wai-Kong), 2018. "Organization capital and firm life cycle," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 556-578.
- Li, Kai & Qiu, Buhui & Shen, Rui, 2018. "Organization Capital and Mergers and Acquisitions," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 53(4), pages 1871-1909, August.
- Muhammad Nadeem & Stephen Bahadar & Rashid Zaman & Muhammad Bilal Farooq, 2021. "Does organisational capital influence environmental strategies? Evidence from environmental innovation," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 4121-4135, December.
- Antonio Falato & Dalida Kadyrzhanova & Jae Sim & Roberto Steri, 2022. "Rising Intangible Capital, Shrinking Debt Capacity, and the U.S. Corporate Savings Glut," Journal of Finance, American Finance Association, vol. 77(5), pages 2799-2852, October.
- Li, Xing & Shen, Guangjun, 2023. "Do tax incentives decelerate corporate financialization? Evidence from the VAT reform in China," Economic Modelling, Elsevier, vol. 125(C).
- Tang, Huoqing & Zhang, Chengsi, 2019. "Investment risk, return gap, and financialization of non-listed non-financial firms in China⁎," Pacific-Basin Finance Journal, Elsevier, vol. 58(C).
- Dessaint, Olivier & Matray, Adrien, 2017. "Do managers overreact to salient risks? Evidence from hurricane strikes," Journal of Financial Economics, Elsevier, vol. 126(1), pages 97-121.
- Xue, Lixing & Chen, Chong & Wang, Na & Zhang, Lirong, 2023. "Gambling culture and corporate financialization: Evidence from China's welfare lottery sales," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
- Rao, Sandeep & Koirala, Santosh & Thapa, Chandra & Neupane, Suman, 2022. "When rain matters! Investments and value relevance," Journal of Corporate Finance, Elsevier, vol. 73(C).
- Ran Duchin & Thomas Gilbert & Jarrad Harford & Christopher Hrdlicka, 2017. "Precautionary Savings with Risky Assets: When Cash Is Not Cash," Journal of Finance, American Finance Association, vol. 72(2), pages 793-852, April.
- Wang, Jiawei (Brooke), 2023. "Natural disasters and firm leasing: A collateral channel," Journal of Corporate Finance, Elsevier, vol. 82(C).
- Zhang, Ziqi & Su, Zhi & Tong, Fang, 2023. "Does digital transformation restrain corporate financialization? Evidence from China," Finance Research Letters, Elsevier, vol. 56(C).
- Gao, Mingze & Leung, Henry & Qiu, Buhui, 2021. "Organization capital and executive performance incentives," Journal of Banking & Finance, Elsevier, vol. 123(C).
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.- Chasiotis, Ioannis & Loukopoulos, Georgios & Toudas, Kanellos, 2024. "Organization capital, dividends and firm value: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 97(C).
- Provaty, Sagira Sultana & Hasan, Mostafa Monzur & Luo, Le, 2024. "Organization capital and GHG emissions," Energy Economics, Elsevier, vol. 131(C).
- Panta, Humnath & Narayanasamy, Arun & Panta, Ayush, 2023. "Organizational capital and credit ratings," Finance Research Letters, Elsevier, vol. 57(C).
- Marwick, Alex & Hasan, Mostafa Monzur & Luo, Tianpei, 2020. "Organization capital and corporate cash holdings," International Review of Financial Analysis, Elsevier, vol. 68(C).
- Guan Ping Zhu & He Fa Gui & Tao Peng & Chong Hui Jiang, 2023. "Corporate tax avoidance and corporate financialization: The moderating effect of managerial myopia," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 459-472, January.
- Tongxia Li & Chun Lu & Lei Xu, 2024. "The impact of organisation capital on inventory efficiency," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(4), pages 3751-3779, December.
- Khoo, Joye & Cheung, Adrian (Wai Kong), 2024. "Firms' organisation capital: Do peers matter?," International Review of Financial Analysis, Elsevier, vol. 96(PA).
- Hasan, Mostafa Monzur & Lobo, Gerald J. & Qiu, Buhui, 2021. "Organizational capital, corporate tax avoidance, and firm value," Journal of Corporate Finance, Elsevier, vol. 70(C).
- Yuxiao Qu & Adrian (Wai Kong) Cheung, 2023. "Organization capital and green innovation: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 3043-3062, November.
- Feng, Yumei & Yao, Shouyu & Wang, Chunfeng & Liao, Jing & Cheng, Feiyang, 2022. "Diversification and financialization of non-financial corporations: Evidence from China," Emerging Markets Review, Elsevier, vol. 50(C).
- Liu, Xing & Liu, Fengzhong, 2022. "Environmental regulation and corporate financial asset allocation: A natural experiment from the new environmental protection law in China," Finance Research Letters, Elsevier, vol. 47(PA).
- Huang, Bingbing & Cui, Yuying & Chan, Kam C., 2022. "Firm-level financialization: Contributing factors, sources, and economic consequences," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 1153-1162.
- Zhang, Xiaoliang & Zheng, Xiaojia, 2024. "Does carbon emission trading policy induce financialization of non-financial firms? Evidence from China," Energy Economics, Elsevier, vol. 131(C).
- Ju, Chunhua & Fang, Xusheng & Shen, Zhonghua, 2024. "Investor attention and corporate financialization: Evidence from internet search volume," International Review of Financial Analysis, Elsevier, vol. 96(PA).
- Zhao, Rui & Zhang, Dayong & Guo, Mengmeng, 2024. "Do natural disasters affect stock price crash risk? Evidence from emerging markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
- Chan, Konan & Guo, Re-Jin J. & Wang, Yanzhi A. & Yang, Hsiao-Lin, 2022. "Organization capital and analyst coverage," Journal of Empirical Finance, Elsevier, vol. 69(C), pages 81-105.
- Panta, Humnath & Panta, Ayush, 2023. "Organizational capital and readability of financial reports," Finance Research Letters, Elsevier, vol. 55(PA).
- Gao, Haoyu & Wen, Huiyu & Wang, Xingjian, 2022. "Pandemic effect on corporate financial asset holdings: Precautionary or return-chasing?," Research in International Business and Finance, Elsevier, vol. 62(C).
- Qi, Minhao & Liu, Yuxin & Hu, Changlong & Yang, Zhijiu, 2024. "The unintended consequence of environmental centralization: Evidence from firm financialization," International Review of Financial Analysis, Elsevier, vol. 96(PB).
- Boubaker, Sabri & Hasan, Mostafa Monzur & Habib, Ahsan, 2022.
"Organization capital, tournament incentives and firm performance,"
Finance Research Letters, Elsevier, vol. 46(PB).
- S. Boubaker & M.M. Hasan & A. Habib, 2022. "Organization Capital, Tournament Incentives and Firm Performance," Post-Print hal-04452668, HAL.
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:wly:mgtdec:v:46:y:2025:i:3:p:1701-1720. 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: Wiley Content Delivery (email available below). General contact details of provider: http://www3.interscience.wiley.com/cgi-bin/jhome/7976 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.