摘要
文章以我国沪深两市A股上市公司1997年—2003年期间的数据为样本,实证检验了企业资本结构的决定因素。检验结果发现,在其他国家能够对企业资本结构产生影响的大多数因素,会以类似的方式影响中国上市公司的资本结构,但也存在着特殊性,因而得出一些与以前实证研究不同的结论。
Based on the sample of public companies in Shanghai and Shenzhen during the period of 1997 -2003, this paper tests the determinants of capital structure at the firm level. Firstly, the author uses the method of main proponent analysis to discern factors, then makes a ridge regression on these main proponents. It is shown that most factors may affect China's listed companies in a similar way as in other countries. However, this paper also draws some different conclusions from previous empirical tests, and presents its own explanation.
出处
《审计与经济研究》
CSSCI
北大核心
2008年第4期92-97,共6页
Journal of Audit & Economics
关键词
资本结构
上市公司
逃税激励
capital structure
listed companies
incentive to evade tax