Research on Financing Structure and Firm Value

Author: Guo Chunli
Publisher:
Publish Date: 2006-10-01
Features: This book attempts to find the main thread of how capital structure affects firm value from the complex theoretical systems, making the principles of capital structure influencing firm value explicit. Given that most domestic scholars, when studying the relationship between capital structure and firm value, tend to treat equity and debt separately and view liabilities as homogeneous, and often examine the relationship from a static perspective, rarely touching upon the impact of changes in capital structure on firm value, this book defines "broad capital structure" and attempts to establish a comprehensive analytical framework that integrates relevant theories, considering equity structure, debt structure, and the interaction between equity and debt in influencing firm value. It examines the impact of existing capital structure and its changes on firm value from both theoretical and empirical perspectives. This book is a practical theoretical monograph on corporate financing research, covering historical reviews of financing structure affecting firm value, static analysis of financing structure affecting firm value, dynamic analysis of financing structure affecting firm value, empirical analysis of financing structure affecting firm value, etc. It is suitable for reference and study by financing researchers of listed companies.