{"title":"为什么公司不借钱?来自中国上市公司的证据","authors":"Liping Xiao, Zhe Li","doi":"10.1109/BIFE.2013.49","DOIUrl":null,"url":null,"abstract":"In order to find out why some companies adopt an extreme capital structure of zero debt, we use the data of China's listed companies to analyze the features of those zero debt companies. Our empirical results show that some factors influence the choice of zero debt policy. Our analysis explains what kind of company may adopt zero debt, and also contribute to the research of low leverage.","PeriodicalId":165836,"journal":{"name":"Business Intelligence and Financial Engineering","volume":"8 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Why Don't Companies Borrow? Evidence from China's Listed Companies\",\"authors\":\"Liping Xiao, Zhe Li\",\"doi\":\"10.1109/BIFE.2013.49\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"In order to find out why some companies adopt an extreme capital structure of zero debt, we use the data of China's listed companies to analyze the features of those zero debt companies. Our empirical results show that some factors influence the choice of zero debt policy. Our analysis explains what kind of company may adopt zero debt, and also contribute to the research of low leverage.\",\"PeriodicalId\":165836,\"journal\":{\"name\":\"Business Intelligence and Financial Engineering\",\"volume\":\"8 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1900-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Business Intelligence and Financial Engineering\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/BIFE.2013.49\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Intelligence and Financial Engineering","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/BIFE.2013.49","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Why Don't Companies Borrow? Evidence from China's Listed Companies
In order to find out why some companies adopt an extreme capital structure of zero debt, we use the data of China's listed companies to analyze the features of those zero debt companies. Our empirical results show that some factors influence the choice of zero debt policy. Our analysis explains what kind of company may adopt zero debt, and also contribute to the research of low leverage.
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