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Author : Ying Yang
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (969 download)
Download or read book A Study of Determinants of Capital Structure - Is Anything New for Listed Firms in China written by Ying Yang and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sunitha Vijayakumaran
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Determinants of Capital Structure Decisions written by Sunitha Vijayakumaran and published by . This book was released on 2019 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we examine the determinants of leverage in the context of China using a sample of 1844 Chinese non-financial firms over the period 2003 to 2010. This study shows that the average leverage ratio of Chinese listed firms is similar to those observed in other developing countries. The study also finds that size, tangibility, volatility and firm age are positively and significantly associated with leverage. Firm's profitability has statistically significant negative impact on leverage. Furthermore, we find that firm size, profitability, tangibility, volatility and firm age are the robust determinants of leverage of Chinese listed firms.
Author : Guoqing Song
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (156 download)
Download or read book New Evidence written by Guoqing Song and published by . This book was released on 2005 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ting Zhang
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.:/5 (926 download)
Download or read book The Determinants of Capital Structure written by Ting Zhang and published by . This book was released on 2008 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gensheng Shen
Publisher :
ISBN 13 : 9787509510681
Total Pages : 0 pages
Book Rating : 4.5/5 (16 download)
Download or read book The Determinants of Capital Structure in Chinese Listed Companies written by Gensheng Shen and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A panel data set of 1,098 Chinese listed companies for the period of 1991 to 2000 was collected from published sources, and conventional and innovative econometric methodologies were used to model a range of relationships between capital structure and its financial and non-financial determinants."--p.1.
Download or read book The Determinants of Corporate Capital Structure, Evidence from Listed Companies in China written by and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wang Mou
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (953 download)
Download or read book The Determinants of Capital Structure in Chinese Listed Companies written by Wang Mou and published by . This book was released on 2011 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Thian Lim
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (13 download)
Download or read book Capital Structure of Real Estate Firms in Chinese Stock Market written by Thian Lim and published by . This book was released on 2015 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of capital structure of real estate firms in China. An empirical study on determinants of capital structure of real estate in Chinese listed firms is conducted using a relatively regression of accounting data for 44 A-share financial listed companies over the quarter from 2008 to the third quarter of 2011. First, this paper identifies that the pecking order theory in China is different from western countries. Second, the results show that profitability, non-debt tax shields and liquidity are significant influence factors in financial sector, while others like size, growth, tangibility and non-circulating share should be judged by the size of the company. Moreover, firm size and non-circulating shares are almost positively related to the corporate leverage ratio. It is also found that Chinese institutional characteristic affects the capital choice decision and the largely state ownerships do affect capital structure choices.
Author : Chun Chang
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (13 download)
Download or read book What are the Reliably Important Determinants of Capital Structure in China? written by Chun Chang and published by . This book was released on 2014 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing studies disagree over the basic determinants of capital structure in Chinese firms. We identify profitability, industry leverage, asset growth, tangibility, firm size, state control, and the largest shareholding as reliable core factors explaining book leverage. Compared with evidence from the United States and other countries, we identify three new core factors, and observe that the relative importance of four common core factors for Chinese firms is diverse. In particular, the state-control dummy is negatively associated with book leverage, contrary to findings in certain previous studies. Additional tests indicate that such a negative effect of state-control derives primarily from easier access to equity financing.
Author : Dung Thi Thuy Tran
Publisher :
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.:/5 (91 download)
Download or read book Determinants of Capital Structure written by Dung Thi Thuy Tran and published by . This book was released on 2015 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yanmin Qian
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Do Chinese Publicly Listed Companies Adjust their Capital Structure Toward a Target Level? written by Yanmin Qian and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the determinants of capital structure for 650 Chinese publicly listed companies over the period from1999 to 2004.We posit that a firm's decision on capital structure is inherently dynamic, and estimate the resulting dynamic capital structure model. The main findings of the paper are as follows: (i) Chinese firms adjust toward an equilibrium level of debt ratio in a given year at a very slow rate; (ii) firm size, tangibility and state shareholdings are positively associated with firm's leverage ratio,while profitability, non-debt tax shields, growth and volatility are negatively related to firm's leverage ratio; (iii) lagged profitability has a negligibly small and positive impact on firm's leverage ratio; (iv) for a firm experiencing a large reduction in its leverage ratio only about 11% of the discrepancy between its desiredand actual leverage level is eliminatedwithina year (compared to more than 18% for full firm sample); (v) extending the basic model to allow for both the target level and the speed of adjustment to be endogenously determined,we find that Chinese firms tend to adjust faster if theyare fartheraway fromthe equilibriumleverage level; andlastly (vi) extending the sample period to cover the earlier periods starting from1993,when the Chinese stockmarkets were first developed, results in a slower speed of adjustment for firms in the below target sample.
Author : Jian Chen
Publisher : Psychology Press
ISBN 13 : 0415345138
Total Pages : 192 pages
Book Rating : 4.4/5 (153 download)
Download or read book Corporate Governance in China written by Jian Chen and published by Psychology Press. This book was released on 2005 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The nature of corporate governance is a key determinant of corporate performance and, therefore, of a country's overall economic power. This title examines key questions relating to corporate governance in China, exploring differences between private and state-owned companies.
Author : Yamini Agarwal
Publisher : John Wiley & Sons
ISBN 13 : 111820316X
Total Pages : 208 pages
Book Rating : 4.1/5 (182 download)
Download or read book Capital Structure Decisions written by Yamini Agarwal and published by John Wiley & Sons. This book was released on 2013-03-29 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inside the risk management and corporate governance issues behind capital structure decisions Practical ways of determining capital structures have always been mysterious and riddled with risks and uncertainties. Dynamic paradigm shifts and the multi-dimensional operations of firms further complicate the situation. Financial leaders are under constant pressure to outdo their competitors, but how to do so is not always clear. Capital Structure Decisions offers an introduction to corporate finance, and provides valuable insights into the decision-making processes that face the CEOs and CFOs of organizations in dynamic multi-objective environments. Exploring the various models and techniques used to understand the capital structure of an organization, as well as the products and means available for financing these structures, the book covers how to develop a goal programming model to enable organization leaders to make better capital structure decisions. Incorporating international case studies to explain various financial models and to illustrate ways that capital structure choices determine their success, Capital Structure Decisions looks at existing models and the development of a new goal-programming model for capital structures that is capable of handling multiple objectives, with an emphasis throughout on mitigating risk. Helps financial leaders understand corporate finance and the decision-making processes involved in understanding and developing capital structure Includes case studies from around the world that explain key financial models Emphasizes ways to minimize risk when it comes to working with capital structures There are a number of criteria that financial leaders need to consider before making any major capital investment decision. Capital Structure Decisions analyzes the various risk management and corporate governance issues to be considered by any diligent CEO/CFO before approving a project.
Author : Benno Ferrarini
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (13 download)
Download or read book Leverage and Capital Structure Determinants of Chinese Listed Companies written by Benno Ferrarini and published by . This book was released on 2017 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Total debt in the People's Republic of China has increased significantly in recent years, mostly on account of nonfinancial corporate debt. Earning and the financial performance of corporate firms have weakened, and so has the asset quality of the financial sector. This paper assesses the financial fragility of the Chinese economy by looking at risk factors in the nonfinancial sector. We apply quantile regressions to a rich dataset of Chinese listed companies contained in Standard & Poor's IQ Capital database. We find higher sensitivity over time of corporate leverage to some of its key determinants, particularly for firms at the upper margin of the distribution. In particular, profitability increasingly acts as a curb on corporate leverage. At a time of falling profitability across the Chinese nonfinancial corporate sector, this eases the brake on leverage and may contribute to its continuing increase.
Author : Wei Wu
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book Capital Structure Determinants written by Wei Wu and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Abubakr Saeed
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783838309866
Total Pages : 64 pages
Book Rating : 4.3/5 (98 download)
Download or read book Empirical Analysis of the Capital Structure Determinants written by Abubakr Saeed and published by LAP Lambert Academic Publishing. This book was released on 2009-08 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital structure theory is one of the most bewildering issues in the corporate finance literature. Capital structure theories suggest various factors that affect firm to maintain a target capital structure in order to maximize firm value, by minimizing the costs of prevailing market imperfections. Subsequent to the departures from Modigliani and Miller (1958) s irrelevance proposition, there is a long tradition in corporate finance to investigate the capital structure determinants of firms. Most capital structure studies based on these theories to date uses data from economies that have developed financial markets or approaching higher stages of transition, i.e. China and India. Less developed market and particular specific industry is rare in literacy sphere. This book analyzes the explanatory power of some predominant theories that have been proposed in the literature to explain determinants of capital structures across firms. In particular, this study investigates the capital structure determinants of Pakistani firms based on a panel data set from 2001 to 2005.
Author : Hua Lei
Publisher :
ISBN 13 :
Total Pages : 318 pages
Book Rating : 4.:/5 (795 download)
Download or read book An Analysis of the Determinants of the Capital Structure of Chinese Companies, 1997-2005 and the Impact of Regulatory Regime Change and Corporate Governance written by Hua Lei and published by . This book was released on 2008 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:
