Capital Structure and Pyramid Ownership Analysis on Samples of the listed private companies in China

摘要：

Ownership structure is one of the most important factors in corporation governance system. This paper studies the impact of pyramid ownership on capital structure using the listed private companies as sample. The number of middle shareholders and deviation between Control right and Cash flow are positive related to Asset-liability ratio. Pyramid type of ownership structure of listed companies tends to rise in the ratio of debt financing.

关键词： capital structure pyramid structruret private companies

作者: Wang Xiaoyong Liu Xingjun

作者单位: School of Economics HuaZhong University Of Science &Technology WuHan, China School of Information Managemengt HuBei University of Economics Department Of Information Management

会议类型: 国际会议

会议名称: 2011 International Conference on Green Energy and Environmental Sustainable Development(2011年IEEE绿色能源与环境可持续发展国际会议 GEESD2011)

会议地点: 吉林

会议语种:英文

页码: 1775-1778

在线出版日期: 2011-11-04（万方平台首次上网日期，不代表论文的发表时间）