This study examines the influence of the reduction in value-added tax (VAT) rates in China during 2018 and 2019 on corporate financialization. By employing a difference-in-differences model and utiliz
Corporate financialization is a growing concern in China, and its impact on the main business of real enterprises is a crucial topic. This paper uses data from all A-share non-financial listed compani
Based on the perspective of performance pressure, we explore the influence of controlling shareholders’ share pledge on excessive financialization behavior of enterprises and its internal mechanism. T
Annual data of non-financial companies listed on China's stock exchanges from 2008 to 2022 . （Exclude ST, PT, delisting, missing financial data and samples of insolvent enterprises）；
