| 公司治理结构对债务期限结构影响的实证研究 |
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| 引用本文： | 武晓玲,翟琦.公司治理结构对债务期限结构影响的实证研究[J].山西财经大学学报,2011(11). |
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| 作者姓名： | 武晓玲 翟琦 |
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| 作者单位： | 西安交通大学管理学院;西安交通大学过程控制与效率工程教育部重点实验室; |
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| 摘 要： | 从公司治理结构的角度,选择2003～2007年沪深股市690家A股上市公司作为样本,在考虑公司特征和行业差异的前提下,运用多元线性回归模型分析了股权结构和董事会特征对上市公司债务期限结构的影响。研究发现,第一大股东持股比例与债务期限结构显著负相关,董事会规模、独立董事比例与债务期限结构显著正相关,国有股比例、管理者持股、董事长和总经理两职合一与债务期限结构的关系不显著。
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| 关 键 词： | 股权结构 董事会特征 债务期限结构 |
Empirical Study on the Influence of Corporate Governance Structure on Debt Maturity Structure |
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| WU Xiao-ling ,ZHAI Qi.Empirical Study on the Influence of Corporate Governance Structure on Debt Maturity Structure[J].Journal of Shanxi Finance and Economics University,2011(11). |
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| Authors: | WU Xiao-ling ZHAI Qi |
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| Institution: | WU Xiao-ling 1,ZHAI Qi 2(1.School of Management,Xi'an Jiaotong University,Xi'an 710049,2.The Key Laboratory of the Ministry of Education for Process Control and Efficiency Projects,China) |
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| Abstract: | Compared with the developed countries,short-term debt ratio of Chinese enterprises is significantly higher.From the perspective of corporate governance structure,this article studies influence of corporate governance on debt maturity structure by using the data of Chinese listed companies 2003-2007.The study results show that: controlling shareholder have a significant negative effect on debt maturity structure;board size,independent director ratio have a significant positive impact on debt maturity structu... |
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| Keywords: | share structure board characteristics debt maturity structure |
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