Abstract
Capital structure is of great importance to company’s financial decision- making. China’s power and coal industry are vital to its economy and it really matters to their development, even to a stable development of China’s economy whether or not the capital structure of the listed companies and coal industry companies will be scientifically managed. This paper gives a summary of the factors affecting capital structure, finds out every component which is representative of specific financial indexes and proposes hypotheses. Together with the inherent development features and conditions of these industries, we make a quantitative analysis on the factors by using SPSS and the method of principal component analysis. We draw the conclusion that the negative correlations are found between the capital structure of these two industries and profitability, asset liquidity and company growth, but the positive correlations exist between capital structure and company size, debt tax shield, asset structure and internally financing capability.
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Liu, Rs. (2013). Influence Factors Analysis of Capital Structure of Power and Coal Industry Listed Companies. In: Yang, Y., Ma, M., Liu, B. (eds) Information Computing and Applications. ICICA 2013. Communications in Computer and Information Science, vol 391. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-53932-9_13
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DOI: https://doi.org/10.1007/978-3-642-53932-9_13
Publisher Name: Springer, Berlin, Heidelberg
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