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| Release | : 1999 |
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| Release | : 2002 |
| Genre | : Capital |
| ISBN | : |
| Author | : Sunitha Vijayakumaran |
| Publisher | : |
| Total Pages | : 19 |
| Release | : 2019 |
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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.
| Author | : Le Cao |
| Publisher | : |
| Total Pages | : 52 |
| Release | : 2011 |
| Genre | : Capital |
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| Author | : Gensheng Shen |
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| Total Pages | : 0 |
| Release | : 2008 |
| Genre | : Corporate governance |
| ISBN | : 9787509510681 |
"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.
| Author | : Lakshmi Shyam-Sunder |
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| Total Pages | : 0 |
| Release | : 2023-07-18 |
| Genre | : Business & Economics |
| ISBN | : 9781021260413 |
| Author | : Jian Chen |
| Publisher | : Psychology Press |
| Total Pages | : 192 |
| Release | : 2005 |
| Genre | : Corporate governance |
| ISBN | : 0415345138 |
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.
| Author | : Benno Ferrarini |
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| Total Pages | : 33 |
| Release | : 2017 |
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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.
| Author | : Thian Lim |
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| Total Pages | : 11 |
| Release | : 2015 |
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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.
| Author | : Guoqing Song |
| Publisher | : |
| Total Pages | : 74 |
| Release | : 2005 |
| Genre | : Business enterprises |
| ISBN | : |
