Capital Structure and Pyramid Ownership

被引：0
|
作者：
Wang Xiaoyong [1 ]
Liu Xingjun [2 ,3 ]
机构：
[1] Huazhong Univ Sci & Technol, Sch Econ, Wuhan 430074, Peoples R China
[2] HuaZhong Normal Univ, Dept Informat Management, Wuhan, Peoples R China
[3] HuBei Univ Econ, Sch Informat Managemengt, Wuhan, Peoples R China
来源：
2012 WORLD AUTOMATION CONGRESS (WAC) | 2012年
关键词：
capital structure; pyramid structruret; private companies;
D O I：
暂无
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
Ownership structure is one of the most important factors in corporation governance system. This paper studies the impact of pyramid ownership on capital structure using the listed private companies as sample. The number of middle shareholders and deviation between Control right and Cash flow are positive related to Asset-liability ratio. Pyramid type of ownership structure of listed companies tends to rise in the ratio of debt financing.
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页数：4
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