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The Determinants Of Capital Structure In Chinese Listed Companies
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Book Synopsis The Determinants of Capital Structure in Chinese Listed Companies by : Gensheng Shen
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.
Book Synopsis The Determinants of Capital Structure by :
Download or read book The Determinants of Capital Structure written by and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Determinants of Capital Structure Decisions by : Sunitha Vijayakumaran
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.
Book Synopsis The Determinants of Capital Structure in Chinese Listed Companies by : Wang Mou
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:
Book Synopsis The Determinants of Capital Structure by : Ting Zhang
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:
Book Synopsis The Determinants of Corporate Capital Structure, Evidence from Listed Companies in China by :
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:
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:
Book Synopsis Capital Structure of Real Estate Firms in Chinese Stock Market by : Thian Lim
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.
Book Synopsis Capital Structure Decisions by : Yamini Agarwal
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.
Book Synopsis Corporate Governance in China by : Jian Chen
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.
Book Synopsis A Study of Determinants of Capital Structure - Is Anything New for Listed Firms in China by : Ying Yang
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:
Book Synopsis Determinants of Capital Structure by : Le Cao
Download or read book Determinants of Capital Structure written by Le Cao and published by . This book was released on 2011 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Leverage and Capital Structure Determinants of Chinese Listed Companies by : Benno Ferrarini
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.
Book Synopsis Handbook Of Financial Econometrics, Mathematics, Statistics, And Machine Learning (In 4 Volumes) by : Cheng Few Lee
Download or read book Handbook Of Financial Econometrics, Mathematics, Statistics, And Machine Learning (In 4 Volumes) written by Cheng Few Lee and published by World Scientific. This book was released on 2020-07-30 with total page 5053 pages. Available in PDF, EPUB and Kindle. Book excerpt: This four-volume handbook covers important concepts and tools used in the fields of financial econometrics, mathematics, statistics, and machine learning. Econometric methods have been applied in asset pricing, corporate finance, international finance, options and futures, risk management, and in stress testing for financial institutions. This handbook discusses a variety of econometric methods, including single equation multiple regression, simultaneous equation regression, and panel data analysis, among others. It also covers statistical distributions, such as the binomial and log normal distributions, in light of their applications to portfolio theory and asset management in addition to their use in research regarding options and futures contracts.In both theory and methodology, we need to rely upon mathematics, which includes linear algebra, geometry, differential equations, Stochastic differential equation (Ito calculus), optimization, constrained optimization, and others. These forms of mathematics have been used to derive capital market line, security market line (capital asset pricing model), option pricing model, portfolio analysis, and others.In recent times, an increased importance has been given to computer technology in financial research. Different computer languages and programming techniques are important tools for empirical research in finance. Hence, simulation, machine learning, big data, and financial payments are explored in this handbook.Led by Distinguished Professor Cheng Few Lee from Rutgers University, this multi-volume work integrates theoretical, methodological, and practical issues based on his years of academic and industry experience.
Book Synopsis What are the Reliably Important Determinants of Capital Structure in China? by : Chun Chang
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.
Book Synopsis Economic Systems in the New Era: Stable Systems in an Unstable World by : Svetlana Igorevna Ashmarina
Download or read book Economic Systems in the New Era: Stable Systems in an Unstable World written by Svetlana Igorevna Ashmarina and published by Springer Nature. This book was released on 2020-10-10 with total page 901 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proceedings book presents outcomes of the Innovative Economic Symposium – 2020 organized by the Institute of Technology and Business in České Budějovice (VŠTE) in Russia in collaboration with two universities: Financial University under the Government of the Russian Federation (Moscow) and Samara State University of Economics (Samara). The symposium aims to bring together experts and young scientists in economy, management, international relations, finance, marketing, and professional education from Asian and European countries, to share knowledge and experience and discuss issues related to stable economic development, international business, entrepreneurship, Industry 4.0, cooperation between educational and business structures, strategic decision-making, and processes of economic globalization and fragmentation. The book consists of two parts corresponding to the thematic symposium areas. The book content covers two sections: stable development in unstable world and globalization and fragmentation forces of the current world economy. The main topics included in the book are as follows: - Where is the world moving to and where is the economy in it? - Institutionalization of innovations. - Network architecture of economic relations. - Competences for the future. - Smart change management. - Monetary and fiscal policy development as a factor of economic modernization. - Role of international trade in the economy globalization. - Impact of globalization and economic fragmentation on the enterprise’s internal environment. - Financial conditions for entrepreneurship under the economic modernization. - Impact of scientific and technological progress on globalization and fragmentation of the economy.
Book Synopsis Do Chinese Publicly Listed Companies Adjust their Capital Structure Toward a Target Level? by : Yanmin Qian
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.
