9999js金沙老品牌商学院龙泉学术讲坛（第21期）
题 目：What are the Reliably Important Determinants of Capital Structure in China?
(什么是中国资本结构的真正决定因素？)
主讲人：陈 欣博士
主持人：纳鹏杰 教授
时 间：2014年6月24日（周二） 19:30-21:30
地 点：9999js金沙老品牌南院逸夫楼410
主办单位：商学院 科研处 研究生部
Abstract：Existing studies disagree over the basic determinants of capital structure in Chinese firms. We identify profitability, industry leverage, asset growth, tangibility, firm size, state control, and the largest shareholding as reliable core factors explaining book leverage. Compared with evidence from the United States and other countries, we identify three new core factors, and observe that the relative importance of four common core factors for Chinese firms is diverse. In particular, the state-control dummy is negatively associated with book leverage, contrary to findings in certain previous studies. Additional tests indicate that such a negative effect of state-control derives primarily from easier access to equity financing.
陈欣博士简介：
上海交通大学安泰经济与管理学院会计系博士生导师，明尼苏达大学金融学博士，MIT访问学者，Aarhus大学兼职博导，曾兼任世界银行顾问。主持国家自然科学基金、留学基金委基金等多项研究项目，在Asian Pacific Finance Review（SSCI），China Economic Review （SSCI）， 管理世界、金融研究、审计研究等发表多篇论文。
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