Growth and Capital Structure-Evidence from Panel Data of Listed Firms on SMEs Board

摘要：

Using the panel data of listed firms on SMEs board in the period of 2005-2009, this paper investigates the relation between growth and capital structure of SMEs in China. With the capital structure measured simultaneously by the total debt-to-asset ratio(TO/A) and long term debt-to-asset ratio(LD/A), and growth measured by the market-to-book asset ratio(M/BA), our results show that there are both negative relations between capital structure and growth of SMEs using TD/A and LD/A to measure capital structure respectively.

关键词： SMEs capital structure growth

作者: Qing-mei TAN Jin-ke WU Jiao MA Jie ZHANG

作者单位: College of Management and Economics,Tianjin University,Tianjin,China

会议类型: 国际会议

会议名称: 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management(2010年IEEE第17届工业工程与工程管理国际学术会议)

会议地点: 厦门

会议语种:英文

页码: 1170-1173

在线出版日期: 2010-10-29（万方平台首次上网日期，不代表论文的发表时间）