辽宁工程技术大学学报（社会科学版）2025，Vol.27Issue(2)：111-119,137,10.DOI:10.11955/j.issn.1008-391X.20250205
实体企业金融资产投资对企业成长性的影响
Impact of financial asset investment in entity enterprises on their enterprise growth
摘要
Abstract
Regarding the impact of financial asset investment on the growth of entity enterprises,this study takes non-financial and non-real estate entity in the A-share market of Shanghai and Shenzhen from 2010 to 2021 as research samples,and adopts empirical research methods to analyze the relationship between financial asset investment scale,financial asset investment returns,and enterprise growth,as well as the moderating effect of financing constraints.Research shows that the scale of financial asset investment is significantly negatively correlated with enterprise growth.The investment income of financial assets is significantly negatively correlated with enterprise growth.There is a significant positive correlation between current financial assets and enterprise growth.Non current financial assets are significantly negatively correlated with enterprise growth.Financing constraints play a negative moderating role between the scale of financial asset investment and enterprise growth.The research conclusion provides reference for entity enterprises to better leverage the positive role of financial asset investment and promote long-term development of enterprises.关键词
实体企业/金融资产投资/企业金融化/企业成长性/融资约束Key words
entity enterprises/financial asset investment/corporate financialization/enterprise growth/financing constraints分类
经济学引用本文复制引用
冯旭日,柏红燕..实体企业金融资产投资对企业成长性的影响[J].辽宁工程技术大学学报（社会科学版）,2025,27(2):111-119,137,10.基金项目
教育部人文社会科学研究一般项目(24YJC630002) （24YJC630002）
