Title :
Impact of industrial competitive characteristic on firms´ debt financing decision: evidence from China
Author :
Zeng, Hong ; Rao, Xi
Author_Institution :
Coll. of Econ. & Bus. Adm., Chongqing Univ., China
Abstract :
Study on debt financing decision of firms in different competitive forms by a dynamic empirical model, includes how to decide the capital structure and the decision between debt financing and equity financing. Result shows that there is important linkage between debt financing decision and industrial competitive characteristic, and when deciding debt financing, completely competitive firms are more rational than monopoly ones.
Keywords :
decision making; finance; industrial economics; China; competitive firms; debt financing decision; equity financing; industrial competitive characteristic; product market; Chemical industry; Contracts; Costs; Couplings; Data analysis; Fertilizers; Financial management; Monopoly; Stock markets;
Conference_Titel :
Services Systems and Services Management, 2005. Proceedings of ICSSSM '05. 2005 International Conference on
Print_ISBN :
0-7803-8971-9
DOI :
10.1109/ICSSSM.2005.1499491