旅游上市公司资本结构对机构投资者持股影响的实证研究

2011 2nd International Conference on Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC) Pub Date : 2011-09-06 DOI:10.1109/AIMSEC.2011.6009792

Zhong Wang, Changyou Zhu, Yuan-Fu Huang

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引用次数: 1

摘要

已有不少文献侧重于研究资本结构对机构投资者持股的内在直接影响。本文基于2005-2009年中国旅游上市公司的数据，对这一问题进行了实证研究。结果表明:(1)机构投资者愿意持有资产负债率和流动比率较低的旅游上市公司股票;(2)长期负债率和股权集中度对IIS有显著影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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An empirical study on the impact of listed tourism companies' capital structure on Institutional Investors' Stockholding

Quite a few of existing literatures focused on research the inner impact of capital structure on Institutional Investors' Stockholding directly. In this paper, we have made an empirical research on this topic based on Chinese listed tourism companies' data during 2005–2009. The results indicated: (1) institutional investors were willing to hold listed tourism companies' shares with lower asset-liability ratio and current ratio; (2) Long-term debt ratio and equity concentration had a significant impact on IIS.

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2011 2nd International Conference on Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC)

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