The Relationship Between Debt Financing and Market Value of Company: Empirical Study of Listed Real Estate Company of China
This paper explains the relationship between the debt financing and market value from about 272 Chinese real estate companies, which are all from Shanghai Stock Exchange and Shenzhen Stock Exchange between 2002 and 2007.We conduct an empirical study, the empirical results show that our countrys real estate listing of corporate debt financing relatively large proportion of total assets, average by 55%. And generally improving the overall rate of debt financing can improve the companys market value. Further in-depth studying, we found that long-term borrowing and commercial credit financing have positive correlation with the companys market value, however, short-term borrowing and companys market value had a negative correlation.
Xu Lixin Chen Lin
School of Management,University of Science and Technology of China,Hefei,P.R.China,230026
国际会议
The 7th International Conference on Innovation and Management(第七届创新与管理国际会议 ICIM 2010)
武汉
英文
2043-2047
2010-12-04（万方平台首次上网日期，不代表论文的发表时间）