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The belt and road initiative, financial culture, and corporate investment behavior

Year: 2025

Type: article

Abstract: Based on data from Chinese listed companies from 2010 to 2023, this study explores the relationships among the Belt and Road Initiative (BRI), financial culture, and corporate investment behavior. The results indicate that corporate participation in the BRI significantly promotes corporate investment behavior; financial culture has a significant positive effect on corporate investment behavior; and financial culture plays a moderating role in the relationship between corporate participation in the BRI and investment behavior. Moreover, the moderating effect of financial culture on the relationship between corporate participation in the BRI and investment behavior varies by firm size. This study provides a new perspective for understanding the interaction mechanism between financial culture and the BRI, and offers useful references for policymakers and corporate managers in formulating investment decisions.

Source: Finance research letters

DOI: 10.1016/j.frl.2025.109275

Authors: Nijie Xu, Yijia Yu, Xiangjian Zhang

Institutions: The University of Melbourne, UNSW Sydney, Shanghai University of Finance and Economics

Language: English

Topic: Corporate Finance and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $3,730

OpenAlex ID: W4417027268

FWCI:

Cites: 22

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