摘要：In this paper, based on the analysis of the determinants of capital structure of China’s listed fi...In this paper, based on the analysis of the determinants of capital structure of China’s listed firm from 1999 to 2003, we focus on the relationship between corporate diversification and capital structure. Our research shows that the ownership makes a significant impact on this relationship: diversification raises the leverage of State-Owned-Enterprises significantly, while it’s not the case for the non-State-Owned-Enterprises. The coinsurance effect can explain what happens in the SOEs, and we do not find any proof of the ineffectiveness of internal capital market in the non-State-Owned-Enterprises.显示全部
