Financing Structure of Chinese Listed Companies and Corporate Performance

Author: Wang Yurong
Publisher:
Publish Date: 2005-11-10
Features: Corporate financing structure has always been one of the hot topics in the field of financial theory, with both theoretical research and empirical validation remaining vigorous. With the development and improvement of China's market economy system, more Chinese enterprises will go public and raise funds through stock issuance in the future. Facing multiple financing channels, how should Chinese enterprises choose? How should the financing structure of enterprises be determined, and what is the basis? What factors should be considered in financing structure decision-making? How does financing structure affect corporate value? These questions are deeply concerned by experts and scholars engaged in financial theory research as well as corporate decision-makers. This book is a profound mark made under such attention. Drawing on relevant theories of financing structure from abroad, it compares the financing structures and their determinants in major developed countries and developing countries, with a focus on Chinese listed companies. Based on comprehensive financial data and market transaction data, it employs various research methods to conduct a thorough and in-depth empirical analysis of the characteristics of financing structure and the relationship between financing structure and corporate performance of Chinese listed companies. The author points out that the optimization goal of the financing structure of listed companies should be to maximize corporate value. For the optimization of financing structure and corporate governance structure of Chinese listed companies, the book's meticulous and comprehensive research results hold extremely significant reference value.