The Influence of High-tech Enterprise Financialization on Enterprise Value

Abstract

In recent years, the economic growth has slowed down structurally, the real business environment has been deteriorating due to rising costs, insufficient demand, low innovation capacity and other factors, the industrial investment rate has continued to decline, the industrial operating profit situation is not optimistic, and many real enterprises are struggling and on the verge of bankruptcy. On the contrary, the financial market has ushered in a vigorous development. At the same time, because the financial market serves the real economy, it also makes it more convenient for real enterprises to pay and settle, transfer resources regionally, and diversify investment, which greatly alleviates the problem of information asymmetry faced by real enterprises in the market. The influence of the degree of financialization on the corporate culture is positive. The higher the degree of financialization, the deeper the impact on the value of the enterprise, and vice versa. However, the degree of development has a certain limit, and once it exceeds this reasonable limit, it will develop in the opposite direction. Therefore, on this basis, it is increasingly important to study the impact of entity enterprise financialization on enterprise value. This paper studies the impact of high-tech enterprise financialization on enterprise value, that is, the impact of enterprise financialization on enterprise value.