A Comparative Study of Chinese and American Capital Market Environment

Based on the Empirical Data of 4 Listed Companies

DOI

10.2991/978-94-6463-098-5_118How to use a DOI?

Keywords

Optimal Capital Structure; Capital market; MM principle; Trade-off Theory; Pecking order Theory

Abstract

The MM principle, the trade-off theory, and the pecking order theory are methods enterprises would apply when determining the optimal capital structure. Chinese and American companies' capital environment is different, leading to diverse capital structures. This paper uses four companies that operate in the traditional and emerging industries to explore the similarities and differences between Chinese and American companies' capital structures. Find the characteristics of their capital structure by comparing debt, firm value, equity and calculating debt/value ratio and debt/equity ratio.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Zehao Wang
PY  - 2022
DA  - 2022/12/27
TI  - A Comparative Study of Chinese and American Capital Market Environment
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 1031
EP  - 1045
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_118
DO  - 10.2991/978-94-6463-098-5_118
ID  - Wang2022
ER  -