Title :
The interaction between capital structure and product market competition: Empirical evidence from Chinese listed companies
Author_Institution :
Economics & Management College, Three Gorges University, Yichang, China
Abstract :
The relationship between capital structure and product market competition is a field got much concern from economic scholars recently, but research works got so far seem to neglect their bidirectional relationship. Considering this deficiency, I take Chinese A-stock listed companies as research objects, and use a systemic equation model to test the bidirectional relationship between companies´ capital structure and their product market competition intensity. The test results indicate that both debt ratio and product market competition intensity have statistically significant negative effects on each other.
Keywords :
Companies; Economics; Equations; Investments; Least squares approximation; Marketing and sales; Mathematical model; capital structure; debt ratio; product market competition;
Conference_Titel :
E -Business and E -Government (ICEE), 2011 International Conference on
Conference_Location :
Shanghai, China
Print_ISBN :
978-1-4244-8691-5
DOI :
10.1109/ICEBEG.2011.5882054
