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Does the performance of financial policy improve the total factor productivity in the competition?——Empirical evidence from Chinese listed companies

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  • WU, Haotian
  • Mi, Jun
  • Zhang, Chengming

Abstract

China's state-owned enterprises have obvious advantages in financing due to factors such as administrative industry monopoly and government subsidy bias, resulting in a significant imbalance between state-owned enterprises and private enterprises in the allocation of social capital in China. This study focused on the impact of resource allocation in the financial field on the total factor productivity of enterprises, and conducted an empirical analysis with the 2020 novel coronavirus outbreak as the critical public health event, and found that the competitive neutrality of financial policy had a significant positive effect on improving the total factor productivity of Chinese enterprises.

Suggested Citation

  • WU, Haotian & Mi, Jun & Zhang, Chengming, 2024. "Does the performance of financial policy improve the total factor productivity in the competition?——Empirical evidence from Chinese listed companies," Finance Research Letters, Elsevier, vol. 59(C).
    • Handle: RePEc:eee:finlet:v:59:y:2024:i:c:s1544612323011479
    DOI: 10.1016/j.frl.2023.104775
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    References listed on IDEAS

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    1. Svetlana Balashova & Apostolos Serletis, 2021. "Oil Price Uncertainty, Globalization, and Total Factor Productivity: Evidence from the European Union," Energies, MDPI, vol. 14(12), pages 1-11, June.
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    Cited by:

    1. Zhang, Ruifeng & Zhao, Lishuang & Song, Shuhong, 2024. "Does capital input contribute to green total-factor capital efficiency?," Finance Research Letters, Elsevier, vol. 62(PB).
    2. Liangfeng Hao & Biyi Deng & Haobo Zhang, 2024. "Enabling Green Innovation Quality through Green Finance Credit Allocation: Evidence from Chinese Firms," Sustainability, MDPI, vol. 16(17), pages 1-21, August.

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