The Determinants of Capital Structure:An Empirical Research Based on Panel Data

摘要：

This paper develops a preliminary study to explore the determinants of capital structure of Zhejiang S&M-listed companies using panel data.With the capital structure measured by the ratios of total debt,equity and long-term debt of total asset,our results shows that size,growth and collateral value are positively related to capital structure;portability,volatility,non-debt tax shields and age are negative related to capital structure;the relationship free crash flow and capital structure is not tangible.

关键词： capital structure debt panel data

作者: SHEN Pingping WANG Shaohua

作者单位: Zhejiang University of Technology,P.R.China

会议类型: 国际会议

会议名称: The Twelfth West Lake International Conference on Small & Medium Business(第十二届西湖国际中小企业研讨会 WLICSMB 2010)

会议地点: 杭州

会议语种:英文

页码: 231-236

在线出版日期: 2010-10-24（万方平台首次上网日期，不代表论文的发表时间）