| Acknowledgement | 第3-4页 |
| List of Publications | 第4-6页 |
| Abstract | 第6-7页 |
| 摘要 | 第8-16页 |
| List of Abreviations | 第16-18页 |
| Chapter 1: Introduction | 第18-33页 |
| 1.1 BACKGROUND OF THE STUDY | 第18-19页 |
| 1.2 CHINA AS A CONTEXT OF ANALYSIS | 第19-27页 |
| 1.2.1 Chinese Market at a Glance | 第19-21页 |
| 1.2.2 The Emergence of China's Capital Market, 1978-1992 | 第21-22页 |
| 1.2.3 The Emergence of Bonds | 第22-23页 |
| 1.2.4 Capital Markets and Financing Alternatives in China | 第23-25页 |
| 1.2.5 Inauguration and Development of Chinese Stock Exchanges | 第25-26页 |
| 1.2.6 The Growth of Intermediaries | 第26页 |
| 1.2.7 The Emergence of Securities Investment Funds and Their Regulation | 第26-27页 |
| 1.3 GOVERNANCE SYSTEM | 第27页 |
| 1.4 ECONOMIC INDICATOR | 第27-30页 |
| 1.5 RESEARCH GAP, SIGNIFICANCE AND STUDY INNOVATION | 第30-31页 |
| 1.6 THE RESEARCH OBJECTIVE AND QUESTIONS | 第31页 |
| 1.7 STRUCTURE OF DISSERTATION | 第31-33页 |
| Chapter 2: Literature Review and Determinants of Capital Structure | 第33-44页 |
| 2.1 REVIEW OF CAPITAL STRUCUTURE THEORIES | 第33-36页 |
| 2.2 TARGET ADJUSTMENT HYPOTHESIS | 第36页 |
| 2.3 LIFE CYCLE AND TARGET LEVERAGE | 第36-37页 |
| 2.4 DETERMINANTS OF LEVERAGE | 第37-44页 |
| 2.4.1 Firm level Determinants of Leverage | 第37-41页 |
| 2.4.2 Industry Level Factors | 第41-42页 |
| 2.4.3 Country Level Factors | 第42-44页 |
| Chapter 3: apital Structure Theories and Hypotheses Development | 第44-50页 |
| 3.1 LIFE CYCLE AND CAPITAL STRUCTURE THEORIES | 第44-50页 |
| 3.1.1 Pecking Order Theory and Leverage Pattern acorss Firm Life Cycle | 第44-45页 |
| 3.1.2 Trade-off Theory and Leverage Pattern across Firm Life Cycle | 第45-47页 |
| 3.1.3 Agency Cost Theory and Leverage Pattern across Firm Life Cycle | 第47-48页 |
| 3.1.4 Dimand's Theory and Leverage Pattern across Firm Life Cycle | 第48-50页 |
| Chapter 4: Research Methodology | 第50-55页 |
| 4.1 VARIABLES'DESCRIPTION | 第50页 |
| 4.2 DATA AND METHODOLOGY | 第50-53页 |
| 4.3 STATISTICAL MODEL AND ESTIMATION STRATEGY FOR PARTIAL ADJUSTMENT BEHAVIOR ACROSS FIRM LIFE CYCLE | 第53-55页 |
| Chapter 5: Results and Discussion of Targeting Behavior in Chinese Firm | 第55-73页 |
| 5.1 DESCRIPTIVE STATISTICS | 第55-57页 |
| 5.2 CORRALATION MATRIX | 第57页 |
| 5.3 ADJUSTMENT RATE OF LEVERAGE | 第57-62页 |
| 5.4 DETERMINANTS OF LEVERAGE | 第62-68页 |
| 5.5 ROBUSTNESS CHECKS | 第68-71页 |
| 5.6 CONCLUSION AND SUMMARY DISCUSSION OF CHAPTER 5 | 第71-73页 |
| Chapter 6: Unit Root Analysis across Firm Life Cycle | 第73-88页 |
| 6.1 BACKGROUND | 第73-75页 |
| 6.2 THEORETICAL FRAMEWORK, REVIEW OF PRIOR STUDIES | 第75-76页 |
| 6.3 ESTIMATION OF MEAN REVERSION | 第76-78页 |
| 6.4 DESCRIPTIVE STATISTICS | 第78-79页 |
| 6.5 EMPIRICAL ANALYSIS AND DISCUSSION | 第79-87页 |
| 6.5.1 Mean Reverting Behavior for Overall Firms | 第79-80页 |
| 6.5.2 Mean Reverting Behavior during Growth Stage | 第80-81页 |
| 6.5.3 Mean Reverting Behavior during Maturity Stage | 第81页 |
| 6.5.4 Mean Reverting Behavior during Decline Stage | 第81-87页 |
| 6.6 CONCLUSION AND SUMMARY DISCUSSION OF CHAPTER SIX | 第87-88页 |
| Chapter 7: Unit Root Analyses on the Basis of Profitability and Financial Crises-2008 | 第88-115页 |
| 7.1 DESCRIPTIVE STATISTICS | 第88-90页 |
| 7.2 RESULTS AND DISCUSSION (SHORT TERM LEVERAGE) | 第90-92页 |
| 7.2.1 Short term Leverage for Overall Firms | 第90-91页 |
| 7.2.2 Short term Leverage (Profit and Loss Making Firms) | 第91-92页 |
| 7.2.3 Short Term Leverage (Before and after crises-2008) | 第92页 |
| 7.3 RESULTS AND DISCUSSION FOR LONG TERM LEVERAGE | 第92-103页 |
| 7.3.1 Long Term Leverage (Profit and Loss Making Firms) | 第99页 |
| 7.3.2 Long Term Leverage (Pre and Post 2008 Crises) | 第99-103页 |
| 7.4 TOTAL LEVERAGE (OVERALL) | 第103-112页 |
| 7.4.1 Total Leverage (Profit and Loss Making Firms) | 第103-106页 |
| 7.4.2 Total Leverage (Pre and Post Crises 2008) | 第106-112页 |
| 7.5 CONCLUSION AND SUMMARY DISCUSSION OF CHAPTER 7 | 第112-115页 |
| Chapter 8: Conclusions Drawn and Policy Implications | 第115-118页 |
| References | 第118-126页 |
