This study empirically analyses the impact of corporate financialization on litigation risk and finds that there is a U-shaped relationship between corporate financialization and litigation risk, whereby an increase in the level of financialization reduces litigation risk before a firm's level of financialization reaches the optimal level, and an increase in the level of financialization exacerbates litigation risk after a firm's level of financialization exceeds the optimal level.

中文翻译：

---

企业金融化与诉讼风险


本研究实证分析了企业金融化对诉讼风险的影响，发现企业金融化与诉讼风险之间存在U型关系，即在企业金融化水平达到最优水平之前，金融化水平的提高会降低诉讼风险。 ，而当企业的金融化水平超过最优水平后，金融化水平的提高会加剧诉讼风险。