Tax incentives and the financialization of the real sector: Evidence from the accelerated depreciation policy in China

Article Business, Finance

Is inhibition of financialization the sub-effect of the green credit policy? Evidence from China

Pengcheng Jiang et al.

Summary: This study examines the impact of the green credit policy on the financialization of heavily polluting firms in China, treating the promulgation of the Green Credit Guidelines (GCGs) as a quasi-natural experiment. The findings demonstrate that the green credit policy effectively hinders the financialization process of heavily polluting firms, with financing constraints playing a mediating role. Additionally, the inhibitory effect of GCGs is more pronounced in small firms, firms with CEOs having financial work experience, and firms located in regions with low financial development. These results offer new insights into the value of implementing green credit policies.

FINANCE RESEARCH LETTERS (2022)

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Article Business, Finance

Corporate financialization and fixed investment rate: Evidence from China

Xiao Meng Jin et al.

Summary: This study examines the relationship between corporate financialization and fixed investment rate in China's listed non-financial enterprises. The results show a negative correlation between corporate financialization and fixed investment rate, supporting the crowding out view. Monetary policy negatively moderates this relationship. Furthermore, the impact of corporate financialization on fixed investment is more pronounced in state-owned enterprises.

FINANCE RESEARCH LETTERS (2022)

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Article Economics