A study of the impact of corporate financialization on the performance of listed manufacturing companies

Abstract

With the rapid development of China's financial industry, the connection between the real industry and the financial industry is deepening, and a large number of real enterprises are involved in the financial industry. Among them, the manufacturing industry is an important pillar of a country's productivity, and the trend of financialization is also increasing. This paper selects listed manufacturing companies as a sample, and uses statistical software to study the impact of corporate financialization on the performance of listed manufacturing companies. After theoretical analysis and empirical research, it is concluded that there is an inverted U-shaped relationship between corporate financialization and corporate performance, that is, too high or too low financialization is detrimental to manufacturing performance. Finally, suggestions are put forward: enterprises should return to their main business, improve their innovation capabilities and maintain a moderate level of financialization, government departments should strengthen supervision and improve financial markets, and financial institutions should reasonably construct financialization risk indicators.