Year: 2016
Type: article
Abstract: This paper studies the determinants of gearing of 558 Chinese listedcompanies between 2007 and 2012. The Least Square Dummy Variable(LSDV) model is employed to investigate the influence of related variables ongearing. Explanatory variables include: profitability, size, growthopportunity, tangibility, liquidity, non-debt tax shield, percentage of tradableshares, proportion of top ten share- holders holding, tax rate and uniquenesswhile controlling for firm factors and industry effects. Two measures are usedto measure gearing: total debt ratio and long-term debt ratio. Our results haveinteresting implications for corporate capital structure on other fast developingnations as well.
Authors: Geeta Lakshmi, Dimitrios I. Vortelinos
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2300294977