Capital Structure of Chinese Firms Across different Sectors: Does Ownership Structure Matter?

Muhammad Yusuf Amin, Amanat Ali () and Bashir Khan
Additional contact information
Muhammad Yusuf Amin: Lecturer, Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, KP, Pakistan.
Bashir Khan: PhD Scholar, School of Economics, Quaid-i-Azam University, Islamabad, Pakistan

Global Economics Review, 2019, vol. 4, issue 2, 70-82

Abstract: This study estimates the effect of state ownership and other firmspecific variables on the capital structure of Chinese listed industries operating in different sectors. State ownership and leverage are both negatively and positively associated. The negative association of state ownership with leverage was found in construction, metals and metal products, services and transport sectors, while positive association was found in chemical, rubber, plastic & non-metallic products and machinery & other equipment. Size and profitability are the other most prominent factors affecting capital structure of the firms across different sectors in China. Hence, this study shows that in addition to other firm specific variables, ownership structure also determines capital structure of Chinese firms.

Keywords: Capital Structure; Corporate Ownership; State-Owned Enterprises; China. (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://gerjournal.com/jadmin/Auther/31rvIolA2LALJouq9hkR/RRkU7p8RJc.pdf (application/pdf)
https://www.gerjournal.com/issue/capital-structure ... hip-structure-matter (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aaw:journl:v:4:y:2019:i:2:p:70-82

Access Statistics for this article

More articles in Global Economics Review from Humanity Only
Bibliographic data for series maintained by M Imran Khan ( this e-mail address is bad, please contact ).