Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

The impact of corporate finance structure on firm value-Evidence from A-share listed companies in China’s manufacturing sector

Authors
Xianhui Deng1, *, Taiyu Wang2
1Tibet University, School of Economics and Management, Lhasa City, Tibet Autonomous Region, China
2Saint Louis University, School of Advanced Studies, Baguio City, Benguet, Philippines
Corresponding Author
Xianhui Deng
Available Online 15 December 2021.
DOI
https://doi.org/10.2991/assehr.k.211209.548How to use a DOI?
Keywords
financing structure; firm value; linear regression
Abstract

Based on the data of A-share listed companies in China’s manufacturing industry from 2016-2020, this paper uses a panel data multiple regression models to conduct a study around the impact of different financing sources in the financing structure on corporate value and finds that the asset-liability ratio, equity concentration, asset size, and corporate growth are positively correlated with corporate value, the debt financing ratio, equity financing ratio, endogenous financing ratio, and bank borrowing ratio are The article also found that the debt financing ratio, equity financing ratio, endogenous financing ratio, and bank borrowing ratio are negatively correlated with enterprise value, and the commercial credit ratio has no significant correlation with enterprise value. The article also divides the sample into eastern, central and western regions based on the perspective of regional differences in order to study the impact of corporate financing structure on enterprise value from a macroscopic perspective, and finds that the financing levels differ in different regions, with the central region requiring particular attention.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
978-94-6239-483-4
ISSN
2352-5428
DOI
https://doi.org/10.2991/assehr.k.211209.548How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Xianhui Deng
AU  - Taiyu Wang
PY  - 2021
DA  - 2021/12/15
TI  - The impact of corporate finance structure on firm value-Evidence from A-share listed companies in China’s manufacturing sector
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 3374
EP  - 3379
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.548
DO  - https://doi.org/10.2991/assehr.k.211209.548
ID  - Deng2021
ER  -