Proceedings of the 2022 2nd International Conference on Public Management and Intelligent Society (PMIS 2022)

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Intermediary Organization Marketization, Corporate Governance, and Financing Efficiency

Authors
Ping Yu1, Jiarui Zhang2, Xiaoling Huang3, *
1Tianhua College, Shanghai Normal University, No. 1661 Shengxin North Road, Shanghai, China
2School of Economics and Management, Tongji University, No. 1239 Siping Road, Shanghai, China
3School of Economics, Guangxi University, No. 100 Daxue East Road, Nanning, Guangxi, China
*Corresponding author. Email: XiaoLing_Huang123@163.com
Corresponding Author
Xiaoling Huang
Available Online 7 December 2022.
DOI
10.2991/978-94-6463-016-9_67How to use a DOI?
Keywords
Market intermediary organization; Corporate governance; Financing efficiency
Abstract

Based on the non-financial companies listed in Chinese A-share market from 2016 to 2020, this paper empirically analyzes the impact of intermediary organization marketization on financing efficiency, and utilizes corporate governance as an intermediary variable to test the underlying mechanisms. By using methods such as principal component analysis to construct key variables, we prove that the marketization of intermediary organizations, corporate governance and financing efficiency have significant positive correlations. Better internal and external supervision mechanisms will lead to higher financing efficiency in a company. Moreover, corporate governance shows the intermediary effect in the influence from the intermediary organization marketization to the financing efficiency, that is, the marketization of intermediary organizations indirectly affects the financing efficiency of companies through the quality of corporate governance.

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 2nd International Conference on Public Management and Intelligent Society (PMIS 2022)
Series
Atlantis Highlights in Computer Sciences
Publication Date
7 December 2022
ISBN
10.2991/978-94-6463-016-9_67
ISSN
2589-4900
DOI
10.2991/978-94-6463-016-9_67How 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  - Ping Yu
AU  - Jiarui Zhang
AU  - Xiaoling Huang
PY  - 2022
DA  - 2022/12/07
TI  - Intermediary Organization Marketization, Corporate Governance, and Financing Efficiency
BT  - Proceedings of the 2022 2nd International Conference on Public Management and Intelligent Society (PMIS 2022)
PB  - Atlantis Press
SP  - 650
EP  - 662
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-016-9_67
DO  - 10.2991/978-94-6463-016-9_67
ID  - Yu2022
ER  -