Research Article
The Study of Influencing Factors of Capital Stucture: Empirical Analysis Based on The Financial Data of China's SSE Listed Companies in 2018
@INPROCEEDINGS{10.4108/eai.9-12-2022.2327610, author={Zhiqi Wang and Xinyi Wei}, title={The Study of Influencing Factors of Capital Stucture: Empirical Analysis Based on The Financial Data of China's SSE Listed Companies in 2018}, proceedings={Proceedings of the 4th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2022, December 9-11, 2022, Chongqing, China}, publisher={EAI}, proceedings_a={MSIEID}, year={2023}, month={3}, keywords={capital structure debt-equity ratio}, doi={10.4108/eai.9-12-2022.2327610} }- Zhiqi Wang
Xinyi Wei
Year: 2023
The Study of Influencing Factors of Capital Stucture: Empirical Analysis Based on The Financial Data of China's SSE Listed Companies in 2018
MSIEID
EAI
DOI: 10.4108/eai.9-12-2022.2327610
Abstract
Capital structure affects plenty of aspects of a company. Inspired by the differences in influencing factors and influencing mechanisms, which are positively or negatively related, we use the financial data of China's SSE listed firms in 2018 to study the influencing factors of capital structure in Chinese listed companies. After data cleaning, we did the Gaussian General Linear Regression and obtained the ANOVA and estimators. After deleting some variables with extremely large variables, we used the Best Subset Selection method with minimum SSR and minimum Mallows' Cp value criterion to select the most related explanatory variables. Finally, we found several factors which have the biggest influence on capital structure. Then we interpreted every explanatory variable and analyzed the possible reasons why they are different from the results in developed countries.