2007•Cai-jing yanjiuRequires access
Competition Strategy, Capital Structure and Corporate Performance
Wen Chen
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Abstract
From the viewpoint of competition in product market, it analyses the correlation between capital structure and corporate performance in different kinds of product market. It also tries to explain the correlation in different industries by different kinds of theories. The results show that for companies in competitive industry, their conservative financial policy may be a rational choice that can be explained by the competition in product market, capital market conditions and competitive strategy.