KMS Of Academy of mathematics and systems sciences, CAS
theeffectofcorporategovernanceondebtfinancingcostoflistedcompanies | |
Li Lin1; Dong Fangyu2; Liu Yifang2; Huang Haijun1; Wang Shouyang3 | |
2016-01-01 | |
发表期刊 | journalofsystemsscienceandcomplexity |
ISSN | 1009-6124 |
卷号 | 29期号:3页码:772 |
摘要 | In recent years, bank credit business is booming with the increasing borrowing intention of China’s listed companies, and debt financing has become the major approach among listed companies’ financing strategies. As a series of institutional arrangements about rights, responsibilities and benefits between different shareholders, corporate governance mechanism has a significant influence on the cost of debt financing. This paper employs variable coefficient panel data model to investigate the relationship of the listed company’s debt financing costs and corporate governance mechanism in terms of structural characteristics and time series characteristics. The results show that optimizing the structure of both Board of Directors and Board of Supervisors, establishing a reasonable management incentive system and reducing the concentration of ownership properly can directly contribute to a lower company’s debt financing costs. Meanwhile, property rights have an interactive influence on corporate governance from four aspects, which indirectly effect in company’s debt financing costs. |
语种 | 英语 |
文献类型 | 期刊论文 |
条目标识符 | http://ir.amss.ac.cn/handle/2S8OKBNM/42575 |
专题 | 系统科学研究所 |
作者单位 | 1.北京航空航天大学 2.中央财经大学 3.中国科学院数学与系统科学研究院 |
推荐引用方式 GB/T 7714 | Li Lin,Dong Fangyu,Liu Yifang,et al. theeffectofcorporategovernanceondebtfinancingcostoflistedcompanies[J]. journalofsystemsscienceandcomplexity,2016,29(3):772. |
APA | Li Lin,Dong Fangyu,Liu Yifang,Huang Haijun,&Wang Shouyang.(2016).theeffectofcorporategovernanceondebtfinancingcostoflistedcompanies.journalofsystemsscienceandcomplexity,29(3),772. |
MLA | Li Lin,et al."theeffectofcorporategovernanceondebtfinancingcostoflistedcompanies".journalofsystemsscienceandcomplexity 29.3(2016):772. |
条目包含的文件 | 条目无相关文件。 |
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