摘要
文章以2000—2005年沪深股市的568家上市公司为样本,采用两阶段最小二乘法估计结构方程,从资本结构与债务期限结构内生决定的角度考察了中国上市公司债务资本的决定。实证研究表明,当杠杆和债务期限结构同时决定时,两者之间是正相关的关系,结构模型和单方程回归结果存在一定的差异。
With the panel data of 568 listed companies from 2000 to 2005, this thesis analysis the endogenous determination of listed corporate's debt capital with Two Stages Least quare. We find when the capital structure and debt maturity structure are decided at the same time, they are positively related. There exist some differences between structural model and the single-regression equations.
出处
《华东经济管理》
CSSCI
2008年第9期92-97,共6页
East China Economic Management
关键词
杠杆
债务期限结构
内生
leverage
debt maturity structure
endogenous