致谢 | 第4-6页 |
摘要 | 第6-8页 |
Abstract | 第8-10页 |
缩写和符号清单 | 第15-16页 |
1 Introduction | 第16-23页 |
1.1 Corporate Social Responsibility | 第16-18页 |
1.2 Corporate Restructuring | 第18页 |
1.3 Corporate Governance | 第18-20页 |
1.4 Statement of the Study | 第20页 |
1.5 Objectives of the Study | 第20-21页 |
1.6 Significance of the Study | 第21-23页 |
2 Literature Review | 第23-50页 |
2.1 Capital Structure Theories | 第23-35页 |
2.1.1 Static trade-off theory | 第23-25页 |
2.1.2 Agency cost theory | 第25页 |
2.1.3 Pecking Order Theory | 第25-27页 |
2.1.4 Dynamic Capital Structure Adjustment Theory | 第27-35页 |
2.2 Corporate Social Responsibility | 第35-39页 |
2.3 Corporate Restructuring | 第39-44页 |
2.3.1 Post-merger cost based synergy due to asset divestiture | 第41-42页 |
2.3.2 Post-merger revenue based synergy due to redistribution of resources | 第42-44页 |
2.4 Corporate Governance | 第44-50页 |
3 Corporate Social Responsibility and Capital Structure Adjustment | 第50-58页 |
3.1 Model | 第52-53页 |
3.1.1 Control Variables | 第52页 |
3.1.2 Analytical Technique | 第52-53页 |
3.2 Data Analysis | 第53-55页 |
3.2.1 Descriptive Statistics for Corporate Social Responsibility Sample | 第53页 |
3.2.2 Structural Equation Model | 第53-55页 |
3.3 Results of the Relationship between Corporate Social Responsibility and Capital Structure Adjustment | 第55-56页 |
3.4 Discussion on the Relationship between Corporate Social Responsibility and Capital Structure Adjustment | 第56-57页 |
3.5 Conclusion | 第57-58页 |
4 Corporate Restructuring and Capital Structure Adjustments | 第58-73页 |
4.1 Model | 第60-62页 |
4.1.1 Control Variables | 第61页 |
4.1.2 Analytical Techniques | 第61-62页 |
4.2 Data Analysis | 第62-70页 |
4.2.1 Descriptive Statistics for Corporate Restructuring Sample | 第62-63页 |
4.2.2 Autocorrelation for Corporate Restructuring Sample | 第63页 |
4.2.3 Unit Root Tests for Corporate Restructuring Sample | 第63-65页 |
4.2.4 Mediation Analysis for Corporate Restructuring and Short Term Leverage Adjustment | 第65-67页 |
4.2.5 Mediation Analysis for Corporate Restructuring and Long Term Leverage Adjustment | 第67-69页 |
4.2.6 Stochastic Frontier Analysis for the Corporate Restructuring and Long Term Leverage Adjustment | 第69页 |
4.2.7 Stochastic Frontier Analysis for the Corporate Restructuring and Short Term Leverage Adjustment | 第69-70页 |
4.3 Results of the Relationship between Corporate Restructuring and Capital Structure Adjustment | 第70-71页 |
4.4 Discussion on the Relationship between Corporate Restructuring and Capital Structure Adjustment | 第71页 |
4.5 Conclusion | 第71-73页 |
5 Corporate Governance and Capital Structure Adjustments | 第73-88页 |
5.1 Hypotheses development | 第73-79页 |
5.1.1 Board Size | 第73-74页 |
5.1.2 Type of ownership | 第74-76页 |
5.1.3 Chairman CEO Duality | 第76页 |
5.1.4 Audit Committee Members | 第76-78页 |
5.1.5 External Auditors | 第78-79页 |
5.2 Model | 第79-81页 |
5.2.1 Control Variables | 第80页 |
5.2.2 Analytical Techniques | 第80-81页 |
5.3 Data Analysis | 第81-85页 |
5.3.1 Descriptive Statistics for Corporate Governance Sample | 第81-82页 |
5.3.2 Autocorrelation in Corporate Governance Sample | 第82页 |
5.3.3 Unit Root Tests for Control Variables | 第82页 |
5.3.4 Optimal Capital Structure using Fixed Effects Model | 第82-83页 |
5.3.5 Dynamic Panel Data Model for Capital Structure | 第83页 |
5.3.6 Dynamic Panel Data Model for Corporate Governance and Capital Structure Adjustment | 第83-84页 |
5.3.7 Stochastic Frontier Analysis for Corporate Governance and Capital Structure Adjustment Speed | 第84-85页 |
5.4 Results of the Relationship between Corporate Governance and Capital Structure Adjustment | 第85-86页 |
5.5 Discussion on the Relationship between Corporate Governance and Capital Structure Adjustment | 第86-87页 |
5.6 Conclusion | 第87-88页 |
6 Conclusion | 第88-92页 |
6.1 Recommendations | 第89-90页 |
6.2 Policy Implications of Study | 第90页 |
6.3 Future Research Directions | 第90-92页 |
参考文献 | 第92-104页 |
附录A Graphs | 第104-119页 |
附录B Tables | 第119-122页 |
附录C Stata Code | 第122-125页 |
作者简历及在学研究成果 | 第125-132页 |
学位论文数据集 | 第132页 |