Financing constraints, major business performance, and return on financial assets

被引：5

作者：

Jia, Haibo ^{[1
]}

Zhang, Ming ^{[2
]}

机构：

[1] North China Univ Technol, Sch Econ & Management, Beijing 100144, Peoples R China

[2] China Univ Lab Relat, Sch Comp Sci, Dept Math, Beijing 100048, Peoples R China

来源：

FINANCE RESEARCH LETTERS | 2024年 / 66卷

关键词：

Return on financial assets; Financial assets risk; Central business performance; Financing constraints;

D O I：

10.1016/j.frl.2024.105653

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study systematically examines the relationship between financing constraints and the return on corporate financial assets based on data from Chinese listed companies from 2012 to 2022. It found a positive correlation between the risk and return of financial asset portfolios; higher risk leads to higher return. Firms with fewer financing constraints have better returns on financial assets. A decrease in return on a firm's operating assets often coincides with an increase in return on financial assets.

引用

页数：7

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