Title :
Empirical research on relationship between interest rate and capital structure of listed real estate companies
Author :
Gao, Minfang ; Wang, Zhen ; Feng, Ai´ai
Author_Institution :
Sch. of Manage., Xi´´an Polytech. Univ., Xi´´an, China
Abstract :
Taking panel data of the real estate companies listed in Shanghai and Shenzhen from 2000 to 2009 as a sample, this paper made an empirical study on relationship between interest rate and capital structure. The results show that interest rate and the debt-to-asset ratio of the listed real estate companies are negatively correlated significantly; the change of interest rate has a significant impact on the adjusting of companies´ capital structure. Chinese real estate companies should change the financing mode which depends on bank loans highly, expand channels of financing and innovate in financing to ensure the healthy development of enterprises.
Keywords :
economic indicators; financial management; property market; Shanghai; Shenzhen; bank loans; capital structure; debt-to-asset ratio; financing mode; interest rate; real estate companies; Companies; Economic indicators; Educational institutions; Finance; Industries; capital structure; interest rate; real estate;
Conference_Titel :
Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC), 2011 2nd International Conference on
Conference_Location :
Deng Leng
Print_ISBN :
978-1-4577-0535-9
DOI :
10.1109/AIMSEC.2011.6010699
