摘要
作为股权融资的成本,股票流动性与上市公司资本结构之间存在着某些必然的关系。分析上市公司资本结构与股票流动性的影响因素,发现上市公司资本结构对股票流动性的影响不确定,即负债的增加既可能增加、也可能降低股票的流动性,同时公司的股票流动性通常与其财务杠杆负相关。
As the cost of equity financing,stock liquidity has some degrees of inevitable relationship with capital structure of the listed company.By analyzing individually the influencing factors of capital structure and stock liquidity,this paper finds that the capital structure has uncertain impact on stock liquidity,and the debt financing may increase or reduce the stock liquidity,meanwhile,company’s stock liquidity generally is negatively correlated with its financial leverage.
出处
《湖南师范大学社会科学学报》
CSSCI
北大核心
2008年第6期107-110,共4页
Journal of Social Science of Hunan Normal University
基金
国家社会科学基金重点项目(07AJL005)
全国高校青年教师教学科研奖励基金项目(教人司2002[123])
教育部博士点专项科研基金项目(20070532091)的阶段性成果
关键词
上市公司
资本结构
股票流动性
listed company
capital structure
stock liquidity
