The impacts of firm size on the interactions between investment, financing and hedging decisions

被引：4
|
作者：
Lin, Chia-Hui [1 ]
Lin, Chu-Hsuing [2 ]
Wang, Yun-Yi [3 ]
机构：
[1] Natl Kaohsiung First Univ Sci & Technol, Coll Finance & Banking, 2 Juoyue Rd, Kaohsiung 81164, Taiwan
[2] Natl Kaohsiung First Univ Sci & Technol, Dept Risk Management & Insurance, Kaohsiung 81164, Taiwan
[3] Feng Chia Univ, Dept Finance, Taichung 40724, Taiwan
来源：
JOURNAL OF STATISTICS & MANAGEMENT SYSTEMS | 2012年 / 15卷 / 06期
关键词：
Simultaneous equations; Firm size; Investment; Financing; Hedging;
D O I：
10.1080/09720510.2012.10701647
中图分类号：
O21 [概率论与数理统计]; C8 [统计学];
学科分类号：
020208 ; 070103 ; 0714 ;
摘要：
We establish simultaneous equations on investment, financing and hedging decisions to explore the interactions between these decisions, and to determine whether such interactions are affected by firm size. The empirical results reveal that when firm size is not taken into consideration, the interactions between investment and hedging decisions, and financing and hedging decisions are found to be positive; the interactions between investment and financing decisions are negative. However, when type of firm size is included within the analysis, the results reveal that the smaller the firm, the stronger interactions between their investment, financing and hedging decisions, indicating that firm size is an important factor in the interactions between financial decisions.
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页码：663 / 683
页数：21
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