Capital Structure Decisions and Corporate Performance: Evidence from Chinese Listed Industrial Firms

dc.contributor.author	Vijayakumaran, R.
dc.date.accessioned	2019-02-01T05:44:02Z
dc.date.accessioned	2022-06-28T03:52:10Z
dc.date.available	2019-02-01T05:44:02Z
dc.date.available	2022-06-28T03:52:10Z
dc.date.issued	2017
dc.identifier.issn	2162-3082
dc.identifier.uri	http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/1234
dc.description.abstract	Market imperfections such as taxes, asymmetric information and agency problems make capital structure decisions relevant to the value of the firm. More specially, the agency theory suggests that debt financing is one of the governance mechanisms to mitigate agency costs of equity capital and thus to enhance firm performance. This paper provides new empirical evidence on the performance effects of capital structure decisions using a large panel of Chinese listed industrial firms. Using fixed effects regression method, the study finds that leverage is positively related to firm performance, suggesting that debt financing now acts as a governance mechanism for Chinese listed firms to enhance their performance.	en_US
dc.language.iso	en	en_US
dc.publisher	International Journal of Accounting and Financial Reporting	en_US
dc.subject	Capital structure decisions	en_US
dc.subject	Agency problem	en_US
dc.subject	Corporate governance	en_US
dc.subject	Bank financing	en_US
dc.title	Capital Structure Decisions and Corporate Performance: Evidence from Chinese Listed Industrial Firms	en_US
dc.type	Other	en_US