Research on Equity Structure and Corporate Financial Behavior

Author: Hu Guoliu
Publisher:
Publish Date: 2006-05-01
Features: Since the 1970s, the role and efficiency of ownership structure in corporate governance have been a hot topic of research in the fields of international finance and accounting. The main perspectives of the research include: one based on corporate performance and the other based on corporate decision-making behavior. In recent years, Chinese scholars have conducted extensive research on this issue, using Chinese listed companies as samples and drawing on the findings of international scholars. Many meaningful research conclusions have been drawn, but most of the research has focused on the aspect of corporate performance, while fewer studies have been conducted on the aspect of corporate decision-making behavior. Based on a review and analysis of relevant domestic and international literature, this book systematically explores the relationship between ownership structure and corporate financial behavior, including the theoretical and empirical analysis of the relationship between ownership structure and corporate capital structure, dividend policy, capital expenditure, investment diversification, and cash holdings. On the basis of theoretical and empirical analysis, this book proposes policy recommendations for optimizing the ownership structure of Chinese listed companies, standardizing corporate financial behavior, and improving information disclosure systems. Finally, it points out the limitations of this book's research and issues worthy of further study. Since the 1970s, the role and efficiency of ownership structure in corporate governance have been a hot topic of research in the fields of international finance and accounting. The main perspectives of the research include: one based on corporate performance and the other based on corporate decision-making behavior. In recent years, Chinese scholars have conducted extensive research on this issue, using Chinese listed companies as samples and drawing on the findings of international scholars. Many meaningful research conclusions have been drawn, but most of the research has focused on the aspect of corporate performance, while fewer studies have been conducted on the aspect of corporate decision-making behavior. Based on a review and analysis of relevant domestic and international literature, this book systematically explores the relationship between ownership structure and corporate financial behavior, including the theoretical and empirical analysis of the relationship between ownership structure and corporate capital structure, dividend policy, capital expenditure, investment diversification, and cash holdings. On the basis of theoretical and empirical analysis, this book proposes policy recommendations for optimizing the ownership structure of Chinese listed companies, standardizing corporate financial behavior, and improving information disclosure systems. Finally, it points out the limitations of this book's research and issues worthy of further study.