Empirical Analysis on Influencing Factors to the Capital Structure of GEM Board Listed Companies in China

Shi-chang Lu () and Xue Luo
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Shi-chang Lu: Liaoning Technical University
Xue Luo: Liaoning Technical University

Chapter Chapter 32 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 295-301 from Springer

Abstract: Abstract Taking the GEM (Growth Enterprises Market) Board listed company in China as research subjects, using factor analysis and regression analysis methods, this article analyzes influencing factors of the capital structures. The result shows that: there is negative relationship between the operation situation, operation security, operation efficiency and capital structure, that is, the profitability, cash flow, debt-paying ability and operating ability of the company are negatively related to capital structure; while there is positive relationship between operating prospect, operating ability and capital structure, that is, the scale, growth potential and mortgage assets are positively related to capital structure.

Keywords: Capital structure; Factor analysis; GEM board; Influencing factors; Regression analysis (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38433-2_32

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DOI: 10.1007/978-3-642-38433-2_32

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