Empirical Study on Financing Order of the Listed firms on Small and Medium Enterprise Board in China

Author

Jian-Yong Liu

Author_Institution

Sch. of Manage., China Univ. of Min. & Technol., Xuzhou

fYear

2008

fDate

12-14 Oct. 2008

Firstpage

1

Lastpage

4

Abstract

The author regards 2006 fiscal year data of 113 listed firms on small and medium enterprise board as research sample, and analyze financing status of these companies. Drawing the following research conclusion: The listed firms on small and medium enterprise board have a low asset-liability ratio, but their financing order accords with pecking order theory, that is to say, firstly selecting interior fund, secondly bank loan, finally stock financing, and preferring short-term loan of bank loan. The author does some explanations aiming at the research results.

Keywords

banking; financial management; small-to-medium enterprises; China; bank loan; financing order; interior fund; listed firms; low asset-liability ratio; pecking order theory; short-term loan; small and medium enterprise board; stock financing; Companies; Costs; Electronic mail; Financial management; Information theory; Local area networks; Paper technology; Statistical analysis; Technology management; Testing;

fLanguage

English

Publisher

ieee

Conference_Titel

Wireless Communications, Networking and Mobile Computing, 2008. WiCOM '08. 4th International Conference on

Conference_Location

Dalian

Print_ISBN

978-1-4244-2107-7

Electronic_ISBN

978-1-4244-2108-4

Type

conf

DOI

10.1109/WiCom.2008.2387

Filename

4680576