haku: @author Yuan, Guoliang / yhteensä: 3
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| Tekijä: | Yuan, Guoliang Zheng, Jianghuai |
| Otsikko: | The financing preference of China listed companies and cases study of financing capability (original in Chinese) |
| Lehti: | Management World (c)
1999 : 3, p.150-157 |
| Asiasana: | FINANCING STOCK MARKETS CORPORATE FINANCE CHINA |
| Kieli: | chn |
| Tiivistelmä: | The development of China stock market is a typical government-impulsed regulation vicissitude. From the very beginning, the establishment and development of the market was established in serving for the state-owned enterprises, especially the large and medium sized enterprises. The shareholder rights financing cost of listed companies is extremely low. All the other financing cost except that taxes are forced to pay is kind of soft constraint. This kind of constraint makes the actual financing cost of listed companies pretty low. In fact, financing preference relies on the relative cost of liability financing and shareholder rights financing. In addition, the shareholder rights structure and the proportion of shares owned by senior managers have few effects on the operating performance. |
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