The Study on Recessive Financial Capital: "The Capital Structure Puzzle" Based Perspective

DOI

10.2991/icpel-17.2017.26How to use a DOI?

Keywords

the capital structure puzzle, recessive financial capital, financial value "noise"

Abstract

This paper manages to research the value and feasibility of the study on recessive financial capital through the perspective of "the capital structure puzzle" based on the gaps of research status on recessive financial capital. For this purpose, based on the combing and analyzing the reference system of the current recessive financial capital research and the field research on capital structure value decision of relationship capital, customer capital, reputational capital of Petrochina Shaanxi Marketing Company and China Mobile Shaanxi Ltd, this paper has observed that the era of knowledge economy have some uncertainties on the estimation of financial value of recessive financial capital, such as relationship capital, customer capital, reputational capital which have made great contribution to the financial value of a venture. In other words, the value decision practice of enterprise capital structure is difficult to gage the financial value contributing degree towards relationship capital, customer capital and reputational capital. However, its result is directly related to the "noise" and "capital structure puzzle" of the financial value contributing degree of recessive financial capital, such as the relationship capital, customer capital and reputational capital. Therefore, the objective existence of "capital structure puzzle" is not only the direct theoretical ground for driving the research of recessive financial capital, but also provides a new analysis perspective for solving the "capital structure puzzle".

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Jie Deng
AU  - Xiaojun Deng
PY  - 2017/07
DA  - 2017/07
TI  - The Study on Recessive Financial Capital: "The Capital Structure Puzzle" Based Perspective
BT  - Proceedings of the 2017 2nd International Conference on Politics, Economics and Law (ICPEL 2017)
PB  - Atlantis Press
SP  - 95
EP  - 98
SN  - 2352-5428
UR  - https://doi.org/10.2991/icpel-17.2017.26
DO  - 10.2991/icpel-17.2017.26
ID  - Deng2017/07
ER  -