A comparative investigation on the determinants of capital structure: the UK and China experiences

Miao, Huaxin (2010) A comparative investigation on the determinants of capital structure: the UK and China experiences. [Dissertation (University of Nottingham only)] (Unpublished)

[img] PDF (Huaxin Miao--4105504--MA Finance and Investment) - Registered users only - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
Download (490kB)

Abstract

Abstract

This paper investigates the determinants of capital structure choice in the UK and Chinese companies across the period 2004-2009. Basing on the regression model of panel data, three measures of firm leverage are tested against seven firm-specific factors. The finding suggests that firms’ capital structure choices are affected by the firm-specific factors as well as the institutional environments in the two countries. The 2007 global financial crisis is also found to have the influence on the capital structure decision. In particular, it is proven that firms in both UK and China are more likely to follow the pecking order theory during the period of the financial crisis.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 18 Jan 2011 16:24
Last Modified: 23 Oct 2016 23:20
URI: http://eprints.nottingham.ac.uk/id/eprint/23932

Actions (Archive Staff Only)

Edit View Edit View