DocumentCode
2417748
Title
A Study on the Reciprocal Relationship between Strategic Resource, Diversification Strategy and Capital Structure
Author
Xizhen, Zhang
Author_Institution
Sch. of Bus., Central South Univ., Changsha, China
fYear
2010
fDate
7-9 May 2010
Firstpage
3597
Lastpage
3602
Abstract
Based on the panel data of 762 listed companies in China from 2003-2006, this paper analyzed the relationship between a firm´s strategic resource, diversification strategies and its capital structure by establishing a simultaneous equation model. Our empirical results show that strategic resource and diversification strategies significantly affect capital structure. In turn, capital structure affects the investment on strategic resource and the choice of diversification strategies. Capital structure and strategic resource, diversification strategies are reciprocally interrelated.
Keywords
investment; China; capital structure; diversification strategy; firm strategic resource; investment; simultaneous equation model; Analytical models; Companies; Equations; Manufacturing; Mathematical model; Strontium; asset specificity; capital structure; diversification strategy; strategic resource;
fLanguage
English
Publisher
ieee
Conference_Titel
E-Business and E-Government (ICEE), 2010 International Conference on
Conference_Location
Guangzhou
Print_ISBN
978-0-7695-3997-3
Type
conf
DOI
10.1109/ICEE.2010.904
Filename
5591741
Link To Document