The pragmatic research of the influence on the capital structure of companies in Taiwan

• Main Authors: Peir-hwai Yu, 尤培槐
• Other Authors: 陳基國
• Format: Others
• Language: zh-TW
• Published: 2003
• Online Access: http://ndltd.ncl.edu.tw/handle/82811945342751438919

碩士 === 國立海洋大學 === 航運管理學系碩士在職專班 === 91 === ABSTRACT What do we know about capital structure ? Some evidence from G-7 international and Taiwan data. We investigate the determinants of capital structure choice by analyzing the financing decisions of public firms in the major industrialized countries.（G-7 and Taiwan）. At an aggregate level,firm leverage is fairly similar across the G-7 and Taiwan. We find that factors identified by previous studies as correlated in the cross-section with firm leverage in Taiwan ,are similarly correlated in other countries as well.however,a deeper examination of the Taiwan and foreign evidence suggests that the theoretical underpinnings of the observed correlations are still largely unresolved. This paper attempts to start filling this gap in our knowledge. Our primary objective is to establish whether capital structure in other countries is related to factors similar to those appearing to influence the capital structure of Taiwan firms. In doing so, We do not restrict ourelves to attempting to reproduce the regularities found in Taiwan in other countries,but We try to go deeper to understand the forces behind them. The use of international data provides a unique opportunity for this analysis .To the extent that other countries are similar to Taiwan, they provide an independent sample to test the received wisdom.To the extent that they have different institutional structures,they increase our ability to discriminate among alternative theories.