On the Key Factors of the Chinese Listed Companies Financing Decisions of Issuing Medium Term Notes

DOI

10.2991/ssemse-15.2015.571How to use a DOI?

Keywords

Medium Term Notes; Development Prospect; Financial leverage; Corporate governance

Abstract

Based on the companies issuing Medium Term Notes (MTNs) listed at Shanghai Stock Exchange (SSE), this paper applies the Logistic model and pair sample analysis to study the key factors that determines the listed companies financing decisions of issuing MTNs from enterprise’s business conditions, financial statements and corporate governance. The results show that company size, development prospect, financial leverage and ownership concentration have great effect on the decisions of issuing MTNs. In other words, the bigger companies size, the better development prospect, the lower financial leverage, the better corporate governance, the higher probability to issue MTNs.

Copyright

© 2015, 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  - Kan Zhang
AU  - Yi Liu
AU  - Pan Xiao
AU  - Linzi Chen
PY  - 2015/11
DA  - 2015/11
TI  - On the Key Factors of the Chinese Listed Companies Financing Decisions of Issuing Medium Term Notes
BT  - Proceedings of the 2015 International Conference on Social Science, Education Management and Sports Education
PB  - Atlantis Press
SP  - 2247
EP  - 2251
SN  - 2352-5398
UR  - https://doi.org/10.2991/ssemse-15.2015.571
DO  - 10.2991/ssemse-15.2015.571
ID  - Zhang2015/11
ER  -