QFII shareholding, information access and corporate asset mismatching

Abstract

Existing research on the efficiency of corporate asset allocation based on different perspectives has become the focus of academic attention and research. However, there are few studies that consider the underlying causes of asset mismatch, especially the lack of in-depth research on the role of information acquisition time difference in the mechanism between asset mismatch and inventory holding. Therefore, based on perspective of information access time difference and empirical evidence from listed companies from 2007 to 2022, this paper empirically finds that QFII stockholding significantly inhibits corporate asset mismatch behaviour; meanwhile, information access time difference can strengthen this inhibiting effect.