Research on the Influence Factors of Capital Structure of New High-Tech Enterprises—Based on the Perspective of Dynamic Adjustment Model
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Abstract
This thesis utilized the dynamic adjustment model of capital structure to empirically test influence factors of capital structure of new high-tech enterprises. The results showed there were adjustment costs in the capital structure of China’s new high-tech listed companies; the actual capital structure has largely deviated from its optimal capital structure. Through the test of dynamic model, it proved that there was a general rule for the influence of the related influence factors on the capital structure of new high-tech enterprises; it also showed self-characteristics of new high-tech enterprises at the same time.