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《Collected Essays on Finance and Economics》 2008-02
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Effects of Growing Opportunity on Debt and Investment Behavior

YUE Xu-hua (School of Accounting,Shanghai University of Finance and Economics,Shanghai 200433,China)  
The paper examined listed companies of A shares in China and discloses the relationship between leverage and investment with different growth opportunity.The empirical results show that the degree of the negative relation between leverage and investment is significantly stronger in companies with low growth opportunity,compared with that with high growth opportunity.The paper also finds that in companies with low growth opportunity,if the separation between control rights and cash flow rights is bigger,the leverage and investment are bigger.
【Fund】: 上海市教委重点资助项目(07ZS1751);; 教育部人文社科研究青年基金资助项目(06JC630021)
【CateGory Index】: F275;F224
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【Citations】
Chinese Journal Full-text Database 2 Hits
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【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 Zhou Mi Cu Weihua Luo Xin3;An Empirical Study on Factors Affecting Listed Companies’ Commercial Liabilities[J];Finance & Economics;2007-05
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5 LI Fu-qiang(School of Accountancy,Jiangxi University of Finance and Economics,Nanchang 330013,China);An Empirical Test on the Impact of the Sources of Debt Financing and Listed Companies Investment from Shareholding Division Reformation[J];Science Technology and Industry;2008-02
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【Co-references】
Chinese Journal Full-text Database 10 Hits
1 OUYANG Ling 1 ,OUYANG Lingnan 1,ZHOU Hongxia 2 (1.School of Management of Shanghai JiaoTong University, Shanghai 200052,China; 2.Science and Technology Department Shanghai, Shanghai JiaoTong University, Shangehai 200052,China);“Market Structure” of Ownership and Optimal Debt and Inefficient Investment Behavior[J];The Study of Finance and Economics;2005-06
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【Secondary Citations】
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