| Stakeholder theory of capital structure - Empirical evidence from Chinese listed companies | |
| Xiao, ZP | |
| 2010-05-10 ; 2010-05-10 | |
| 会议名称 | Proceedings of the 2005 International Conference on Management Science & Engineering (12th), Vols 1- 3 ; 12th International Conference on Management Science and Engineering ; Incheon, SOUTH KOREA ; Web of Science |
| 关键词 | capital structure empirical evidence listed companies stakeholder FINANCE Business Engineering, Multidisciplinary Management Operations Research & Management Science |
| 中文摘要 | We use a series of OLS to examine empirically stakeholder theory of capital structure. We find that stakeholders do affect capital structure choice. Specifically, the bank loan to asset ratio is negatively related to uniqueness of product, but the trade credit to asset ratio is positively related to uniqueness of product; the debt level is negatively related to vertical integration; the debt level is negatively related to employees bargaining power, but it isn't statistically significant at convention levels of confidence; the debt level is negatively related to client concentration; the debt level is positively related to earnings volatility. |
| 会议录出版者 | HARBIN INSTITUTE TECHNOLOGY PUBLISHERS ; HARBIN ; 16 FUXINGJIE NANGANGQU, HARBIN 150006, HEILONGJIANG, PEOPLES R CHINA |
| 语种 | 英语 ; 英语 |
| 内容类型 | 会议论文 |
| 源URL | [http://hdl.handle.net/123456789/19786]  |
| 专题 | 清华大学 |
| 推荐引用方式 GB/T 7714 | Xiao, ZP. Stakeholder theory of capital structure - Empirical evidence from Chinese listed companies[C]. 见:Proceedings of the 2005 International Conference on Management Science & Engineering (12th), Vols 1- 3, 12th International Conference on Management Science and Engineering, Incheon, SOUTH KOREA, Web of Science. |
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