Since the financial crisis burst out in 2008, the capital structure of banking has become the important question which the theorists pay close attention to, so this article focused on China Listed Commercial Bank’s capital structure. Based on a summary on the capital structure theory, this article analyzed the definition and characteristics of the banking capital structure. Besides, this articl...

The paper attempts to find a relation between internationalization of firms & the amount leverage and ownership stake in capital structure. 'Ownership' 'Leverage' have been taken as independent variables for purpose this study; 'Degree internationalization'- defined 'the percentage total sales coming from foreign operation' is dependent variable analysis. multivariate dummy regression was run o...

This study examines the impact of capital structure on agency costs in 211 non-financial Chinese listed firms for the period 1999-2001. There are two main findings. (1) Firms with high debt to asset ratio have high ratio of annual sales to total assets and high ratio of return-on-equity. If a firm has a high debt to asset ratio, creditors are much more concerned about the payment of interest an...

The purpose of this paper is examining the impact of financial leverage as a mediation variable on the relationship between ownership concentration and financial corporate performance. To test the hypotheses, multiple regression analysis is used. The statistical population of this research is all listed companies in Tehran Stock Exchange. However, data were available only for 60 companies durin...

We investigate relations among inside ownership, managerial expenses, risk sharing and equity valuations. Our engine of analysis—Real Estate Investment Trusts (REITs)—provides a unique and rich framework for analysis since we can calculate extremely accurate measures of asset replacement costs, and hence relative valuation (Tobin’s q). Further, the nature of the financial statements allows us t...

This study examines how ownership structure and conflicts of interest among shareholders under a poor corporate governance system affected firm performance before the crisis. Using 5,829 Korean firms subject to outside auditing during 19931997, the paper finds that firms with low ownership concentration show low firm profitability, controlling for firm and industry characteristics. Controlling ...

Corporate governance theory predicts that leverage affects agency costs and thereby influences firm performance. We propose a new approach to test this theory using profit efficiency, or how close a firm’s profits are to the benchmark of a best-practice firm facing the same exogenous conditions. We are also the first to employ a simultaneous-equations model that accounts for reverse causality f...