• DocumentCode
    1856331
  • Title

    Notice of Retraction
    Study on the reason of equity financing preference

  • Author

    Qifeng Wu

  • Author_Institution
    Dept. of Finance, Coll. of Liuzhou Teachers, Liuzhou, China
  • Volume
    3
  • fYear
    2011
  • fDate
    13-15 May 2011
  • Firstpage
    847
  • Lastpage
    851
  • Abstract
    Notice of Retraction

    After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

    We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

    The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

    There was a clear preference of equity financing in China, which was contrary to pecking order theory in Western-developed markets. Why this phenomenon happens in China? This article studied from the perspective of soft restriction of equity financing cost. Because of soft restriction, makes the total cost of equity financing lower than debt financing costs, equity financing preference formatted. Even if there is equity financing cost higher than debt financing costs, because there were exist imperfect corporate governance and capital markets, lead to equity financing costs lack of binding for the enterprises financing decisions, will inevitably lead to equity financing preference. This article concludes with a number of recommendations.
  • Keywords
    costing; stock markets; Chinese equity financing preference; Western-developed markets; capital markets; corporate governance; debt financing cost; enterprises financing decision; equity financing cost; pecking order theory; soft restriction; Companies; Industries; Lead; Security; Stock markets; Equity Financing; Preference; Soft Restriction;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Business Management and Electronic Information (BMEI), 2011 International Conference on
  • Conference_Location
    Guangzhou
  • Print_ISBN
    978-1-61284-108-3
  • Type

    conf

  • DOI
    10.1109/ICBMEI.2011.5920391
  • Filename
    5920391