Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.1997620
Analysing the contagion effect and governance strategy of corporate financialisation based on a SIRS model
Danfeng Zhang
Haiying Pan
Sažetak
Recently, the phenomenon of economic ‘moving from reality to
virtual’ has attracted widespread attention. Based on the principle
of infectious disease dynamics, this study constructs a SIRS model
to examine the contagion effect of corporate financialisation.
Using Chinese manufacturing companies as samples, we verify
the contagion of corporate financialisation before performing a
simulation analysis and proposing strategies to address financial
contagion risks. The results shows that corporate financialisation
is contagious in the sample companies. This feature depends on
the initial contagion conditions and threshold. When the degree
of corporate financialisation does not meet the initial contagion
conditions and is within the contagion threshold, contagion will
not occur. Otherwise, financialisation behaviour will cause mutual
contagion and produce a contagious effect. Meanwhile, the
higher the contagion and the second conversion rates of financialisation, the stronger the contagion effect. The larger the financial reversal and self-recovery rates, the weaker the contagion
effect. Finally, we propose Multi-dimensional governance strategies of financial contagion risk. This study explores the formation
mechanism of corporate financialisation from a new perspective
to provide ideas for the financial governance of enterprises and
promote benign interaction between entities and finance.
Ključne riječi
Corporate financialisation; SIRS model; contagion effect; governance strategy
Hrčak ID:
302608
URI
Datum izdavanja:
31.3.2023.
Posjeta: 138 *