Determinants of Capital Structure: Evidence from Chinese firms
This study focused on investigating the determinant factors of corporate capital structure among Chinese listed firms. The sample data contained a total of 200 firms observed for a ten year period of 2007 to 2016. The dependent variable of this study, debt ratio was broken down into 3 parts and seve...
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
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2017
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| Online Access: | https://eprints.nottingham.ac.uk/46831/ |
| _version_ | 1848797407853150208 |
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| author | Akite, Jennifer |
| author_facet | Akite, Jennifer |
| author_sort | Akite, Jennifer |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | This study focused on investigating the determinant factors of corporate capital structure among Chinese listed firms. The sample data contained a total of 200 firms observed for a ten year period of 2007 to 2016. The dependent variable of this study, debt ratio was broken down into 3 parts and seven independent variables tested against them. Using panel data estimation method (OLS, fixed effects and random effects), a number of variable were found to be significant depending on the precise definition of leverage used. From the OLS regression, short term debt ratio was found to have a significant positive relationship with tangibility, size, profitability and earnings volatility but a negative relationship with non-debt tax shield. Long-term debt had a positive significant relationship with non-debt tax shield but a negative relationship with tangibility and volatility. Total debt was found to have a positive significant relationship with profitability, tangibility, size and non-debt tax shield. Also, from the analysis of the data, it was observed that Chinese listed firms mainly relied on short-term financing. |
| first_indexed | 2025-11-14T20:03:24Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-46831 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:03:24Z |
| publishDate | 2017 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-468312018-04-17T14:58:48Z https://eprints.nottingham.ac.uk/46831/ Determinants of Capital Structure: Evidence from Chinese firms Akite, Jennifer This study focused on investigating the determinant factors of corporate capital structure among Chinese listed firms. The sample data contained a total of 200 firms observed for a ten year period of 2007 to 2016. The dependent variable of this study, debt ratio was broken down into 3 parts and seven independent variables tested against them. Using panel data estimation method (OLS, fixed effects and random effects), a number of variable were found to be significant depending on the precise definition of leverage used. From the OLS regression, short term debt ratio was found to have a significant positive relationship with tangibility, size, profitability and earnings volatility but a negative relationship with non-debt tax shield. Long-term debt had a positive significant relationship with non-debt tax shield but a negative relationship with tangibility and volatility. Total debt was found to have a positive significant relationship with profitability, tangibility, size and non-debt tax shield. Also, from the analysis of the data, it was observed that Chinese listed firms mainly relied on short-term financing. 2017-09-28 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/46831/1/MSc%20Disseration.pdf Akite, Jennifer (2017) Determinants of Capital Structure: Evidence from Chinese firms. [Dissertation (University of Nottingham only)] Short-term debt total debt long-term debt leverage |
| spellingShingle | Short-term debt total debt long-term debt leverage Akite, Jennifer Determinants of Capital Structure: Evidence from Chinese firms |
| title | Determinants of Capital Structure: Evidence from Chinese firms |
| title_full | Determinants of Capital Structure: Evidence from Chinese firms |
| title_fullStr | Determinants of Capital Structure: Evidence from Chinese firms |
| title_full_unstemmed | Determinants of Capital Structure: Evidence from Chinese firms |
| title_short | Determinants of Capital Structure: Evidence from Chinese firms |
| title_sort | determinants of capital structure: evidence from chinese firms |
| topic | Short-term debt total debt long-term debt leverage |
| url | https://eprints.nottingham.ac.uk/46831/ |