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本文选取2007-2014年我国A股上市公司为样本,分析了我国非金融上市公司金融化程度对其绩效的影响。研究表明,我国非国有控股企业金融化程度高于国有控股企业,金融化程度与企业绩效之间存在倒U形关系,即金融化程度过高或过低都会对企业绩效产生不利影响。
This paper selects 2007-2014 A-share listed companies in China as a sample to analyze the financial degree of non-financial listed companies on their performance impact. The research shows that the non-state controlled enterprises in our country are more financialized than the state-controlled enterprises, and there is an inverted U-shaped relationship between the degree of financialization and the performance of enterprises. That is, the degree of financialization is too high or too low, which will adversely affect the performance of enterprises.