Abstract:The negative impact of the financialization of non-financial firms cannot be ignored in China. However, existing studies neglect that the government environmental governance is an important influential factor in corporate investment decisions. Using a sample of China’s non-financial listed firms from 2007 to 2020, we examine the impact of local governments’ energy-saving target constraints on the financialization of local firms in terms of whether local governments set numerically specific energy-saving target… Show more
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