An Empirical Research on the Relationship between Debts Structural Arrangement of Listed Company and Company Value Based on Growth Characteristics
According to whether the information is disclosed or not, enterprise financing process is divided into public debt financing and non-public debt financing. Normally, the component proportion relationship between public debt and non-public debt is called debt structural arrangement. It is generally believed through existing research that debt structural arrangement has great impact on company value. Through using correlation analysis method and the analysis on the relationship between debt structural arrangement and enterprise value of Ch inas non -financial industry listed companies from 2001 to 2008 which have balance of bonds payable and different growth characteristics, this article reaches a conclusion that debt structural arrangement doesnt have positive influences on the value China s listed companies. According to state-owned property right grouping inspection of listed companies, bank-major non-public debt financing has soft constraint on state-holding listed companies.
debt structural arrangement listed company value growth
Liu Xiangbin
Harbin University of Commerce, Harbin, P.R.China, 150028
国际会议
4th International Conference on Productinnovation Management(第四届产品创新管理国际会议)
武汉
英文
1214-1218
2009-08-22（万方平台首次上网日期，不代表论文的发表时间）