Economic policy uncertainty and corporate financialization: Evidence from China

• Published in: International review of financial analysis Vol. 82; p. 102182
• Main Authors: Zhao, Yan, Su, Kun
• Format: Journal Article
• Language: English
• Published: Elsevier Inc 01.07.2022
• Subjects: China; Corporate financialization; Economic policy uncertainty; Financing constraint; Corporate financialization; Economic policy uncertainty; G38; China; Financing constraint; G32

Using a quarterly sample of Chinese non-financial listed firms from 2007 to 2020, we find a U-shaped relationship between economic policy uncertainty (EPU) and corporate financialization. When economic policy uncertainty (EPU) is in an appropriate range, the increase of economic policy uncertainty (...