Dissertation > Excellent graduate degree dissertation topics show

The Research on Insufficient Investment and Excessive Investment of Listed Companies in Our Country Based on the Financing Preference

Author: YanLinLin
Tutor: GeYongBo
School:
Course: Finance
Keywords: Financing Preference Financial Structure Insufficient Investment Excessive Investment
CLC: F275
Type: Master's thesis
Year: 2013
Downloads: 218
Quote: 0
Read: Download Dissertation

Abstract


The study on the enterprise investment and financing behavior has always been one ofthe core issues of modern corporate finance. The MM theory puts forward that corporate’scapital structure has nothing to do with its market value, and varietis of financing ways canbe alternatived each other with no difference, which caused widespread concern intheoretical circles at that time. Then, many scholas have relaxed the assumption of the MM.Trade-off theory and Pecking-order theory are the most representative. Lots of researchabout it appeared after that in domestic theorists. Based on the perspective of financingstructure, they gained the conclusion—enterprise has a preference to equityfinancing—which is different from many foreign empirical results.On the other hand, a company’s financing behavior and the financial constraints areboth the factors impacting its investment decisions. Investment is the purpose of corporatefinancing, and financing decisions interact to investment decision indeed. Therefore, thereis great theoretical significance of the study on the relationship between financing waysand investment decisions to help us understand corporate financial decision-making andthe business development laws. In addition, there has no uniform framework aboutinvestment and financing behavior research, so the study of the interactive relationshipbetween them can be further enriched the theory.First, through the analysis of enterprise financing preference theory, according to thestatus of “equity financing preference”, this paper offers a discrimination betweenfinancing structure and preference in the view of situations in China. Then we use themultivariate ordered Logit model to test each factor of listed companies impactingenterprise financing behavior, re-establishing the internal financing preference in our listedcompanies. On that basis, we provide a empirical analysis on the affects of internal cashflow and debt ratio to the investment spending. The last part gives several suggestionsabout the enterprise investment and financing.

Related Dissertations

  1. Research on the Impact of Commercial Banks and Securities Market to the Transformation of the Industrial Structure in Jiangxi Province,F121.3
  2. Heilongjiang Financial Governance Structure of Listed Companies,F275
  3. Empirical Analysis of the Impact of Debt Financing on Non-efficient Investment of Private Listed Companies in China,F275
  4. The Evolution of Financial Structure in China and Population Aging,C924.2
  5. The Empirical Study on the Relationship between Financial Structure and Company Performance,F272
  6. Research on the Problem of Weak Industrialized Area Promoting Urban-Rural Integration,F127
  7. Shanghai financial center establishment and financial structure optimization,F832.1
  8. Research on the Causes of Equity Finiancing Preference of Listed Campanies in China,F275
  9. The Research on the Preference for Financing of Chinese Listed Companies,F275
  10. Investigation on the Relationship between Earnings Management and Financing Behaviors of China’s Listed Companies,F275
  11. A Study on the Reasons and Influence Factors of Chinese Listed Companies’ Equity Financing Preference,F275
  12. Rural Finance Development: Evidence from Jilin Province and Developed Region in China,F832.7
  13. Analysis on American Financial Crisis and Reform of International Monetary System,F821
  14. A Research on the Relationship between China’s Financial Development and Economic Growth,F832;F124
  15. The Econometric Analysis of Financing Ways of Banks and Stock Market to Economic Growth in China,F832.51;F124
  16. A Brief Probe into China’s Financial Structure 1992-2005,F832.1
  17. Empirical Research on the Inefficient Investment Behavior Arising from the Conflicts between Stockholder and Creditor,F224
  18. A Macro Financial Study on China’s Institutional Investors,F832.5
  19. Hunan Financial Structure and Economic Development of,F127;F224
  20. Research on Managerial Overconfidence and Corporate Over-investment,F272;F224
  21. The Impacts of Divergence between Control Rights and Cash-Flow Rights on Listed Family Firms’ Investment Behavior,F276.6

CLC: > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management
© 2012 www.DissertationTopic.Net  Mobile