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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/135120

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/135120

Title:	The joint determinants of capital structure and stock rate of return: A LISREL model approach
Authors:	陳鴻毅 Chen, Hong-Yi Lee, Cheng Few Tai, Tzu
Contributors:	財管系
Keywords:	LISREL;structural equation modeling (SEM);confirmatory factor analysis (CFA);capital structure
Date:	2019-10
Issue Date:	2021-05-25 11:52:06 (UTC+8)
Abstract:	We develop a simultaneous determination model of capital structure and stock returns. Specifically, we incorporate the managerial investment autonomy theory into the structural equation modeling with confirmatory factor analysis to jointly determine the capital structure and stock return. Besides attributes introduced in previous studies, we introduce indicators affecting a firm’s financing decision, such as managerial entrenchment, macroeconomic factors, government financial policy, and pricing factors. Empirical results show that stock returns, asset structure, growth, industry classification, uniqueness, volatility, financial rating, profitability, government financial policy, and managerial entrenchment are major factors of the capital structure.
Relation:	Review of Pacific Basin Financial Markets and Policies, Vol.22, No.2, pp.1950013-1-51
Data Type:	article
DOI 連結:	https://doi.org/10.1142/S0219091519500139
DOI:	10.1142/S0219091519500139
Appears in Collections:	[財務管理學系] 期刊論文

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