The financial geographic structure, Confucian culture, and corporate asset allocation efficiency

•This study investigates the influence of financial geography and regional Confucian culture on asset allocation efficiency.•Financial concentration boosts asset allocation efficiency, with Confucian culture enhancing this effect.•This study highlights the role of financial and cultural environments in improving corporate asset management. This study investigates the influence of financial geography and regional Confucian culture on asset allocation efficiency in China's non-financial listed firms. Findings reveal that financial concentration boosts asset allocation efficiency, with Confucian culture enhancing this effect. Despite rigorous testing, these outcomes persist, highlighting the role of financial and cultural environments in improving corporate asset management and offering insights into the cultural impact on business growth.