The Determinants of Capital Structure in Chinese Listed Companies

This paper attempts to investigate the determinants of the capital structure of a sample of 1456 listed companies on the Hong Kong Stock Exchange from 2005 to 2010. However, 226 companies have to be excluded from the analysis because the data is not complete. This study uses 1230 companies to make t...

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Main Author:	Wang, Mou
Format:	Thesis
Language:	eng eng
Published:	2011
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/2784/1/Wang_Mou.pdf https://etd.uum.edu.my/2784/2/1.Wang_Mou.pdf
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id	my-uum-etd.2784
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Md Rus, Rohani
topic	HG Finance
spellingShingle	HG Finance Wang, Mou The Determinants of Capital Structure in Chinese Listed Companies
description	This paper attempts to investigate the determinants of the capital structure of a sample of 1456 listed companies on the Hong Kong Stock Exchange from 2005 to 2010. However, 226 companies have to be excluded from the analysis because the data is not complete. This study uses 1230 companies to make the investigation to determine the capital structure of Chinese listed companies. The relationship between size, profitability, liquidity, growth opportunity, asset structure, business risk and tax shield with leverage are highlighted. The findings show that size, profitability, business risk and tax shield are highly significant at 1% level in determining the capital structure while liquidity is significant at 10% level. However, growth opportunity and asset structure are not significant determinants of capital structure in China.
format	Thesis
qualification_name	masters
qualification_level	Master's degree
author	Wang, Mou
author_facet	Wang, Mou
author_sort	Wang, Mou
title	The Determinants of Capital Structure in Chinese Listed Companies
title_short	The Determinants of Capital Structure in Chinese Listed Companies
title_full	The Determinants of Capital Structure in Chinese Listed Companies
title_fullStr	The Determinants of Capital Structure in Chinese Listed Companies
title_full_unstemmed	The Determinants of Capital Structure in Chinese Listed Companies
title_sort	determinants of capital structure in chinese listed companies
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2011
url	https://etd.uum.edu.my/2784/1/Wang_Mou.pdf https://etd.uum.edu.my/2784/2/1.Wang_Mou.pdf
_version_	1747827428514856960
spelling	my-uum-etd.27842016-04-24T01:49:05Z The Determinants of Capital Structure in Chinese Listed Companies 2011-06 Wang, Mou Md Rus, Rohani Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HG Finance This paper attempts to investigate the determinants of the capital structure of a sample of 1456 listed companies on the Hong Kong Stock Exchange from 2005 to 2010. However, 226 companies have to be excluded from the analysis because the data is not complete. This study uses 1230 companies to make the investigation to determine the capital structure of Chinese listed companies. The relationship between size, profitability, liquidity, growth opportunity, asset structure, business risk and tax shield with leverage are highlighted. The findings show that size, profitability, business risk and tax shield are highly significant at 1% level in determining the capital structure while liquidity is significant at 10% level. 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The Determinants of Capital Structure in Chinese Listed Companies

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