Hometown CEOs and corporate financialization

被引：0
作者：
Lin, Cuiliang [1 ]
Long, Yue'e [2 ]
机构：
[1] Shantou Univ, Business Sch, Shantou 515821, Peoples R China
[2] Shantou Univ, Adm Bldg,East Coast Campus,5 Cuifeng Rd, Shantou 515821, Guangdong, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2025年 / 76卷
关键词：
Hometown identity; Financial constraints; Short-sighted orientation; Corporate financialization; INVESTMENT;
D O I：
10.1016/j.frl.2025.106973
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Corporate financialization refers to the process in which non-financial firms focus on financial activities for short-term gains, potentially harming core business activities of the company and causing economic bubble risks. This paper investigates the impact of hometown CEOs on corporate financialization. Based on data from Chinese listed companies, we find that hometown CEOs are less likely to conduct corporate financialization. Furthermore, we identify that hometown CEOs reduce corporate financialization by alleviating financial constraints and decreasing short-sighted orientation. Moreover, the relationship is more pronounced when CEOs possess more discretionary power and enhanced capabilities.
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页数：10
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