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The Impact of Financial Asset Allocation of Real Enterprises on Enterprise Value

In: Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023)

Author

Listed:
  • Zhengchao Zhang

    (Bohai University, School of Economics)

  • Shuo Zhang

    (Bohai University, School of Economics)

Abstract

This article examines the effects of real businesses’ financial asset allocation on enterprise value using the Shanghai and Shenzhen A-share listed companies from 2012 to 2021 as the research sample. According to the study, there is an ongoing “inverted U-shaped” relationship between enterprise value and financial asset allocation. The improvement of enterprise value will be hampered by excessive financial asset allocation, whereas moderate financial asset allocation will encourage it. Second, as opposed to state-owned businesses, non-state-owned businesses have a more substantial inverted U-shaped link between financial asset allocation and enterprise value. The conclusion of this paper has certain guiding significance for better promoting the financial services to the real economy and the high-quality development of enterprises.

Suggested Citation

  • Zhengchao Zhang & Shuo Zhang, 2024. "The Impact of Financial Asset Allocation of Real Enterprises on Enterprise Value," Advances in Economics, Business and Management Research, in: Suhaiza Hanim Binti Dato Mohamad Zailani & Kosga Yagapparaj & Norhayati Zakuan (ed.), Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023), pages 637-643, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-256-9_65
    DOI: 10.2991/978-94-6463-256-9_65
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