The choice of capital structure by firms is a recurring topic of corporate finance and evolving on a theoretical and empirical level. On a theoretical level, scholars propose variations to the models by removing the t...The choice of capital structure by firms is a recurring topic of corporate finance and evolving on a theoretical and empirical level. On a theoretical level, scholars propose variations to the models by removing the theoretical hypothesis or expanding variables considered, likewise, on an empirical level, researchers provide survey, which contributions aimed at increasing the understanding of the phenomenon as a whole, considering the possible events in the variety and variability of firms. In particular, one of the most debated topics in the literature regards the existence or absence of relationship between the choices of financial structure and firm value, or the determination of an optimal leverage for the value. Therefore, the attention of researchers has focused on the identification of relationship between debt and equity that maximizes firm＇s performance and meet shareholders＇ expectations in terms of return on capital employed for the same risk. Hence, the aim of this paper is to provide another piece to the cognitive complexity of the phenomenon, focusing the research on Italian firms, given the importance of leverage in the financial structure of Italian firms. The methodology used is based on the analysis conducted using the Mediobanca database aggregated sector by sector to identify the main determinants of financial structure. The conclusion is that it is not possible to say with certainty which financial structure theory better represents the behavior of Italian firms concerning financial structure.展开更多
Based on the Panel Data of Shan dong Province of 17 regions, by estimating varying coefficient models, studies the relationship between financial development and industrial structure.The results show that, on the whol...Based on the Panel Data of Shan dong Province of 17 regions, by estimating varying coefficient models, studies the relationship between financial development and industrial structure.The results show that, on the whole, the financial development indicators-the scale and the efficiency can effectively promote industrial restructuring in all regions of Shandong province, but its role has obvious differences in different regions, so it can provide a basis for economic decision-making and financial policy advice.展开更多
As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy i...As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy industry. Particularly for the developing countries, to achieve rapid development require a lot of capital. However, there are some problems with finance in the development of the new energy industry. Based on the analysis, this paper puts forward some countermeasures.展开更多
As indicated by a survey of 105 villages in 19 provinces and cities, the 2008 international financial crisis had a serious impact on migrant workers＇ employment, which is prominently manifested in their earlier retur...As indicated by a survey of 105 villages in 19 provinces and cities, the 2008 international financial crisis had a serious impact on migrant workers＇ employment, which is prominently manifested in their earlier return to their hometowns, the dismissal of 20 percent of migrant workers from their jobs and a considerable decline in their wages. Thanks to a series of policies the state adopted to ensure growth and expand consumption, migrant workers soon got re-employed. However, some deep-rooted problems surrounding the issue of migrant workers＇ empoyment came to light as a result of this crisis. These problems need to be solved on an urgent basis, though it will involve a considerable amount of hard work over an extended period of time. While this will require a combination of transitional measures and long-range strategies, the employment of migrant workers should also be incorporated as a fundamental part of the undertaking to ensure economic growth, adjusting the industrial structure, transforming the development mode and pushing forward with the reform.展开更多
Chinese investment banks, as a part of the financial market, play an important role in the development of the national economy. With the development of financial market after China＇s entry into WTO, the investment ba...Chinese investment banks, as a part of the financial market, play an important role in the development of the national economy. With the development of financial market after China＇s entry into WTO, the investment banks confront with immensely international competition. Meanwhile, Chinese investment banks are facing with problems such as elementary business structure, small capitalization and faultiness of governance, which lead to their less competitive power. This article conducts research from the perspective of path optimization of business structure of investment banks. Through economic analysis of path optimization of business structure, we conclude path optimization of business structure of domestic investment banks will lay a solid foundation for enhancing their competitive power. Whereafter this article constructs optimized path for business structure of Chinese investment banks and analyzes the influence factors of the optimized path. At last, this article advises on how to enhance the business structure of Chinese investment banks.展开更多
文摘The choice of capital structure by firms is a recurring topic of corporate finance and evolving on a theoretical and empirical level. On a theoretical level, scholars propose variations to the models by removing the theoretical hypothesis or expanding variables considered, likewise, on an empirical level, researchers provide survey, which contributions aimed at increasing the understanding of the phenomenon as a whole, considering the possible events in the variety and variability of firms. In particular, one of the most debated topics in the literature regards the existence or absence of relationship between the choices of financial structure and firm value, or the determination of an optimal leverage for the value. Therefore, the attention of researchers has focused on the identification of relationship between debt and equity that maximizes firm＇s performance and meet shareholders＇ expectations in terms of return on capital employed for the same risk. Hence, the aim of this paper is to provide another piece to the cognitive complexity of the phenomenon, focusing the research on Italian firms, given the importance of leverage in the financial structure of Italian firms. The methodology used is based on the analysis conducted using the Mediobanca database aggregated sector by sector to identify the main determinants of financial structure. The conclusion is that it is not possible to say with certainty which financial structure theory better represents the behavior of Italian firms concerning financial structure.
文摘Based on the Panel Data of Shan dong Province of 17 regions, by estimating varying coefficient models, studies the relationship between financial development and industrial structure.The results show that, on the whole, the financial development indicators-the scale and the efficiency can effectively promote industrial restructuring in all regions of Shandong province, but its role has obvious differences in different regions, so it can provide a basis for economic decision-making and financial policy advice.
文摘As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy industry. Particularly for the developing countries, to achieve rapid development require a lot of capital. However, there are some problems with finance in the development of the new energy industry. Based on the analysis, this paper puts forward some countermeasures.
文摘As indicated by a survey of 105 villages in 19 provinces and cities, the 2008 international financial crisis had a serious impact on migrant workers＇ employment, which is prominently manifested in their earlier return to their hometowns, the dismissal of 20 percent of migrant workers from their jobs and a considerable decline in their wages. Thanks to a series of policies the state adopted to ensure growth and expand consumption, migrant workers soon got re-employed. However, some deep-rooted problems surrounding the issue of migrant workers＇ empoyment came to light as a result of this crisis. These problems need to be solved on an urgent basis, though it will involve a considerable amount of hard work over an extended period of time. While this will require a combination of transitional measures and long-range strategies, the employment of migrant workers should also be incorporated as a fundamental part of the undertaking to ensure economic growth, adjusting the industrial structure, transforming the development mode and pushing forward with the reform.
文摘Chinese investment banks, as a part of the financial market, play an important role in the development of the national economy. With the development of financial market after China＇s entry into WTO, the investment banks confront with immensely international competition. Meanwhile, Chinese investment banks are facing with problems such as elementary business structure, small capitalization and faultiness of governance, which lead to their less competitive power. This article conducts research from the perspective of path optimization of business structure of investment banks. Through economic analysis of path optimization of business structure, we conclude path optimization of business structure of domestic investment banks will lay a solid foundation for enhancing their competitive power. Whereafter this article constructs optimized path for business structure of Chinese investment banks and analyzes the influence factors of the optimized path. At last, this article advises on how to enhance the business structure of Chinese investment banks.
