The relationships among capital structure, growth opportunity and the decision-making of managers of international corporations
碩士 === 大葉大學 === 國際企業管理學系碩士班 === 96 === The stronger corporations compete, the more consideration manager to do in the age of internationalization. This study discuss debt policy would be influenced be-tween two companies by SEM research method. And we choice two different sample periods to confirm a...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2008
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| Online Access: | http://ndltd.ncl.edu.tw/handle/02681918532975846203 |
| Summary: | 碩士 === 大葉大學 === 國際企業管理學系碩士班 === 96 === The stronger corporations compete, the more consideration manager to do in the age of internationalization. This study discuss debt policy would be influenced be-tween two companies by SEM research method. And we choice two different sample periods to confirm appositeness of decision making moment according to business cycle. The result finds that leader companies’ capital structure have influence followers posi-tively while business expansion. But the followers would influence leader compa-nies’ capital structure negatively while business recession.
In other words, the followers will imitate debt policy from leader companies and leader companies would make decisions according to the followers in some special business situations. In addition, we find that growth opportunity between competitors will not influence firm’s policy by each other.
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