Effects of Information Asymmetry on Listed Companies' Debt Financing: Evidence from China

被引：0
|
作者：
Feng Yumei [1 ]
Wang Chunfeng [2 ]
Fang Zhenming [2 ]
机构：
[1] Shandong Finance Univ, Sch Banking & Finance, Jinan 250014, Shandong, Peoples R China
[2] Tianjin Univ, Financial Engn Res Ctr, Tianjin 300072, Peoples R China
来源：
2007 INTERNATIONAL CONFERENCE ON WIRELESS COMMUNICATIONS, NETWORKING AND MOBILE COMPUTING, VOLS 1-15 | 2007年
关键词：
information asymmetry; financial deficit; debt financing;
D O I：
暂无
中图分类号：
TP39 [计算机的应用];
学科分类号：
081203 ; 0835 ;
摘要：
According to the pecking order theory, among the company's external financing channels, debt financing should be selected firstly. Based on financial market microstructure measuring method of information asymmetry and Fama-MacBeth regression technology, the study finds that Chinese listed companies' ratio of debt increases Kith information asymmetry. When listed companies' financial deficit is higher, the positive relationship between debt ratio and information asymmetry is significant.
引用
收藏
页码：3977 / +
页数：2
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