Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)

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Corporate Financialization and Corporate Innovation: Promotion or Inhibition-Base on Data Analysis

Authors
Ruiyi Peng1, *, Yutong Guo1, Xinbei Li1
1College of Business and Tourism, Sichuan Agricultural University, Yaan, China
*Corresponding author. Email: ruiyi_212@126.com
Corresponding Author
Ruiyi Peng
Available Online 20 December 2022.
DOI
10.2991/978-94-6463-030-5_122How to use a DOI?
Keywords
Corporate Financialization; Corporate Innovation; Smoothing Effect; Crowding Out Effect; A-Share Listed Companies; Data Analysis
Abstract

Facing the new situation of complex changes at home and abroad, innovation plays an important role in the process of enterprise development. Due to the rise of financial investment activities, enterprises are becoming more and more financialized, how does corporate financialization affect corporate innovation? This paper selects data of non-financial listed companies in China’s Shanghai and Shenzhen A-shares from 2007–2019 as a sample to investigate what impact exists between corporate financialization and corporate innovation and the variability of this impact among different types of companies. The results of the study find that corporate financialization inhibits the level of innovation, and the inhibitory effect of financialization on the level of innovation is more pronounced among firms with poor internal control quality, non-eastern regions, and weak growth. The results of this paper enrich the research on the impact of corporate innovation and provide a reasonable reference for managers to make business decisions.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)
Series
Atlantis Highlights in Intelligent Systems
Publication Date
20 December 2022
ISBN
10.2991/978-94-6463-030-5_122
ISSN
2589-4919
DOI
10.2991/978-94-6463-030-5_122How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Ruiyi Peng
AU  - Yutong Guo
AU  - Xinbei Li
PY  - 2022
DA  - 2022/12/20
TI  - Corporate Financialization and Corporate Innovation: Promotion or Inhibition-Base on Data Analysis
BT  - Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)
PB  - Atlantis Press
SP  - 1218
EP  - 1239
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-030-5_122
DO  - 10.2991/978-94-6463-030-5_122
ID  - Peng2022
ER  -