Empirical Study of the Relationship Between Financial Development, Financial Structure and Capital Structure of Listed Firms in China

被引：0
|
作者：
Huang Bingyi [1 ]
Li Jing [1 ]
机构：
[1] Xiamen Univ, Ctr Accounting Studies, Xiamen 361005, Peoples R China
来源：
PROCEEDINGS OF THE 5TH INTERNATIONAL SYMPOSIUM FOR CORPORATE GOVERNANCE, BOOKS 1 AND 2 | 2009年
关键词：
Financial Structure; Capital Structure; Financial Development; GROWTH;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
While controlling joint endogeneity and unobserved company characteristic in panel data model, the papers study empirically the relationship between financial development, financial structure and capital structure of listed firms in China. The results show that the size and activity of the bank and the size of stock market have a significant positive effect on the capital structure of listed firms, but the change of financial structure has a significant negative correlation with the capital structure of listed firms in China. Furthermore, this paper finds no evidence that the relationship between the activity of stock market and the capital structure of listed firms is highly significant in China.
引用
收藏
页码：445 / 453
页数：9
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