Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《Securities Market Herald》 2013-10
Add to Favorite Get Latest Update

The Diffusion Effect Research of Listed Companies’ Capital Structure in China

Wei Feng;Kong Yu;  
On the basis of China's listed companies' large sample data from 2001 to 2009, the paper empirically tests the diffusion effect with average industry capital structure under the fixed-effect method and instrument variables method. The results show that average industry capital structure has greater impact on firms' capital structure than that of average industry financial variables.Furthermore, we find that the diffusion effect is stronger when the endogenity problem of capital structure is controlled. Thus,our conclusion harmonizes the interpretation about the similarities and differences of firms' capital structure among industries in exiting literatures.
【Fund】: 中央高校基本科研业务费专项资金项目(CDJSK100207、CDJKXB13006)
【CateGory Index】: F275;F832.51
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
【References】
Chinese Journal Full-text Database 1 Hits
1 CHEN Jin-long;WANG Cheng-liang;College of Business Administration,Huaqiao University;;Monetary policy,financial linkages and corporate cash holdings[J];Journal of Guizhou University of Finance and Economics;2014-02
【Citations】
Chinese Journal Full-text Database 7 Hits
1 TAN Ke (Post-Doctoral Station of CASS, Post-Doctoral Laboratory of SSE, Shenzhen 518010, China);Capital Structure, Ownership Structure and Performance:A Study of Chinese Listed Companies[J];Industrial Economics Research;2005-03
2 LIU Shouxian(School of Management,Shandong University,Jinan 250100,China);The Factors Which Influence Intra-industry Capital Structure Differences of Chinese Listed Companies:Empirical Study[J];Industrial Economics Research;2006-05
3 Guo Pengfei & Sun Peiyuan (Shanghai Jiaotong University);The Industrial Characteristic of Capital Structure:An Empirical Study on Chinese Listed Companies[J];Economic Research Journal;2003-05
4 Jiang Fuxiu Liu Zhibiao Li Yan;Intra-industry Capital Structure Dispersion:An Empirical Research Based on Chinese Listed Firms[J];Journal of Financial Research;2008-05
5 Qu Yaohui;Adjustment Speed and its Determinants of Capital Structure of Chinese listed Companies:An Empirical Analysis from Unbalanced Panel Data[J];Accounting Research;2006-06
6 By Xiao Zuoping;Empirical Research Overview on the Determinants of Capital Structure[J];Securities Market Herald;2005-11
7 ;基于不同影响因素的企业资本结构变动机理研究[J];Securities Market Herald;2009-10
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 LIN Xue et al(College of Economics and Management,Sichuan Agricultural University,Yaan,Sichuan 625014);Research on the Influencing Factors and Optimization of Capital Structure of Agricultural Listed Companies in China[J];Journal of Anhui Agricultural Sciences;2009-33
2 SHEN Wei-cheng(School of Management,AHUT,Ma'anshan 243002,Anhui,China);Capital Structure,Ownership Structure and Company Performance[J];Journal of Anhui University of Technology(Social Sciences);2008-04
3 ZHANG Shu-ying,ZHANG Ju,JIANG Rui(School of Management,Anhui Science and Technology University,Fengyang 233100,China);An Empirical Study on Profitability from Capital Structure of Listed Companies——data Based on Listed Companies in Anhui Province[J];Journal of Anhui Science and Technology University;2008-02
4 SUN Cheng-fei(College of Economic and Management,Anhui Science and Technology University,Fengyang 233100,Anhui);Empirical Research on Impact of Capital Structure on Profitability of Agricultural Listed Companies[J];Journal of Anhui Science and Technology University;2010-02
5 Yang Xiaoyan1) Wang Jianwen2) (1)College of Economics and Business Administration,North China Univ.of Tech.,100144,Beijing,China;2) College of Science,North China Univ.of Tech.,100144,Beijing,China);An Empirical Study on Industry Effects of Stock Returns[J];Journal of North China University of Technology Beijing China;2008-03
6 Zhi Xiaoqiang 1 & Tong Pan 2(1.Post-Doctoral Station, Guang Hua Business Management School, Peking University, Beijing 100871;2. Post-Doctoral Research Workstation, PICC Property and Casualty Co. Ltd., Beijing 100052);Empirical Examination on the Factors that Impact the Refinancing Choice of China's Listed Companies[J];Journal of Beijing Technology and Business University;2004-05
7 Yao Zhenghai(College of Administration, Xuzhou Normal University, Xuzhou, Jiangsu 221009);An Empirical Analysis on the Factors Influencing Capital Structure of Listed Companies in Jiangsu Province[J];Journal of Beijing Technology and Business University(Social Science);2006-01
8 Cui Xue-gang~1 Yang Yan-yan~2(1.Accounting School,Beijing Technology and Business University,Beijing 100048.China;2.Inner Mongolia Institute of Finance and Economics,Huhehaote Neimenggu 010051,China);Research on Financing Demand and Capital Structure Choice of SMEs in China——An Empirical Test on Small and Medium-sized Listed Companies[J];Journal of Beijing Technology and Business University(Social Science);2008-06
9 Li Bao-ren & Zhang Yuan(School of Economics,Beijing Technology and Business University,Beijing 100048,China);Empirical Analysis on Capital Structure of China's Listed Corporations and its Effect upon the Corporate Performance[J];Journal of Beijing Technology and Business University(Social Science);2010-03
10 Ge Hong-ling & Xiong Jing (School of Economics,Beijing Technology and Business University,Beijing 100048,China);Review of Fusion Research on Industrial Organization Theory and Capital Structure Theory[J];Journal of Beijing Technology and Business University(Social Science);2012-01
China Proceedings of conference Full-text Database 10 Hits
1 ;The Empirical Research of the Improvement of Small Companies' Capital Structure in Security Market[A];[C];2005
2 ;中国上市公司股权性融资与EVA关系的实证分析[A];[C];2005
3 ;An Research of Investment-Cash Flow Constrain Under Ownership Concentration[A];[C];2006
4 Jiang Wei Xiao Min Center for Financial Studies, School of Management, Xiamen University (361005);Capital Structure Decisions When Large Shareholders Control[A];[C];2004
5 HAN Liangliang YAO Haixin School of Business Administration, Liaoning University Shenyang 110036;Empirical Study on Influence Factors of Capital Structure of Private Listed Companies——the empirical evidence of 56 private listed companies from manufacture industry[A];[C];2004
6 Tang Hairong Huang Dengshi Zhou Jianan Southwest Jiao Tong University, School of Economics and Management;What cause capital structure to change——Evidence from listed firms of China[A];[C];2004
7 SUI Xin~a ZHANG Xue-feng~b a.College of Manigement, b.College of Sciences,Northeastern University,Shenyang 110004,China.;Influence factor analysis of telecom enterprise financing[A];[C];2007
8 ZHAO Jing HOU Jian-ren GUO Wen-xin ZENG Yong (School of Management, University of Electronic Science and Technology, Chengdu 610054, China);Empirical Research on Determinants of Capital Structure of High-Tech Enterprises in China[A];[C];2007
9 ;Degree of Product-Market Competition and Selection of the Financial Leverage to Listed Company[A];[C];2004
10 ;Study on Relationship between ownership structure and financial constraint level of listed companys in Chinese group corporation.——empirical analysis basing on internal capital market theory[A];[C];2006
【Co-references】
Chinese Journal Full-text Database 9 Hits
1 HU Guo-liu,LIU Bao-jin,MA Qing-ren (Mobile Postdoctoral Stations,Southwestern University of Finance and Economics,Chendu 610074,China);An Empirical Study on the Relationship between Ownership Structure and Cash Holdings[J];The Theory and Practice of Finance and Economics;2006-04
2 HU Guo-liu, WANG Hua-cheng;An empirical study on the determinants of listed corporate cash holdings[J];Journal of Southeast University(Philosophy and Social Science);2007-02
3 Zhu Jigao and Lu Zhengfei;Monetary Policies,Enterprise' Growth,and the Change in the Level of Cash-holding[J];Management World;2009-03
4 Yang Xingquan, Sun Jie;A Positive Study on the Determinants of Corporate Cash Holdings: The Empirical Evidence from Listed Companies of China[J];Nankai Business Review;2007-06
5 Gu Naikang Wan Xiaoyong Chen Hui;Macroeconomic Conditions,Financial Constraints and Cash Holdings[J];China Management Studies;2010-04
6 NIE Li-jie,HU Fu-rong (School of Management of Xi'an Jiaotong University,Xi'an 710049,China);Dynamic Adjustment Study on Determinants of Cash Holdings of Listed Companies in China[J];Journal of Xi'an Jiaotong University(Social Sciences);2011-02
7 XIANG Kai;Earning Quality and Corporate Cash Holdings——Empirical Evidence from the Chinese Stock Market[J];Journal of Central University of Finance & Economics;2009-07
8 Ni Huiping,Zhao Shan;Controlling Shareholders'Shareholding Increasing,Decreasing and Embezzlement of Funds:A Research Based on Chinese A-share Listed Companies from 2009-2011[J];Securities Market Herald;2013-04
9 Zhang Guoyuan;Accounting Conservatism,Earning Management and Investment Efficiency:An Empirical Evidence form Chinese Listed Companies[J];Securities Market Herald;2013-06
【Secondary Citations】
Chinese Journal Full-text Database 10 Hits
1 Chen Xiaoyue & Li Chen;Expected Stock Returns and Debt/Equity Ratio in Shanghai Stock Exchange:An EmpiricalEvidence[J];JOURNAL OF PEKING UNIVERSITY(HUMANITIES AND SOCIAL SCIENCES);1995-01
2 TONG Yong (Department of Finance, School of Management, Fudan University, Shanghai 200433, China);Dynamic Adjustment of Capital Structure and the Determinants[J];The Study of Finance and Economics;2004-10
3 LIU Duan,CHEN Jian,CHEN Shou(College of Business Administration,Hunan University,Changsha 410082,China);Effect of Market Timing on Financing Implement Selection[J];Systems Engineering;2005-08
4 LI Xiao-ping,YUE Liang,LI Bao-xin(School of Management,Xi'an Jiaotong University,Xi'an 710049,China);The Earnings Manipulation and the Corporate Financing Tools-Evidence from the Listed Companies in China[J];Systems Engineering;2007-08
5 XIAO Zuo-ping(School of Economics and Management,Tsinghua University,Beijing 100084,China);Research on Corporate Governance and Financing Policy——Empirical Evidences from Chinese Listed Companies[J];Journal of Industrial Engineering and Engineering Management;2007-03
6 TONG Guang-rong HU Yao-ting XIAO Zuo-ping;Research on Industry Characteristic and Capital Structure[J];Economic Management;2005-08
7 Song Songxing & Jin Weigen;An Efficient and Practical Study of Shanghai Stock Market[J];ECONOMIST;1995-04
8 QIAO Yu (Fudan University)JIANBO CHEN (Development Research Center of the State Council)JANG YANG (Sichuan University)WEI ZHANG (University of International Business Economy);Investment Pattern of Non-state Owned Firms in China[J];China Economic Quarterly;2002-02
9 Zhu Wuxiang,Chen Hanmei & Wu Xun (School of Economics and Management, Tsinghua University);Product Market Competition and Financial Conservatism——Model and the Case of Yanjing Beer Co[J];Economic Research Journal;2002-08
10 Guo Pengfei & Sun Peiyuan (Shanghai Jiaotong University);The Industrial Characteristic of Capital Structure:An Empirical Study on Chinese Listed Companies[J];Economic Research Journal;2003-05
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved