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Auteur Liya LIU |
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Determinants of platform company's capital structure / Liya LIU / 2018
Titre : Determinants of platform company's capital structure Type de document : Mémoire Auteurs : Liya LIU Année de publication : 2018 Importance : 20 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management
STRUCTURE FINANCIERE ; TAUX D'ENDETTEMENT ; STATISTIQUE DESCRIPTIVERésumé : By analyzing the capital structure of 29 platform companies listed in China and America, this paper finds that platform companies in general don’t have a high level of debt with an average debt ratio at 38%. Due to the special business model of platform companies, this type of firms share a similarity that they all have low tangibility. According to the results of multiple linear regression, this paper confirms that the typical industrial characteristic of platform-based companies which is asset-light has a strongly positive relation with the companies’ capital structure quantified as debt ratio. Beside this, firm size has a significant positive relation with platform companies’ debt ratio while profitability is negatively related with it. Under high asset risk which indicated by low tangibility and high industry risk which presented by high volatility of profitability between platform companies, it is reasonable that this type of companies normally don’t use high financial leverage. Programme : PGE-Rouen Spécialisation : Finance d’Entreprise - Corporate Finance Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=485603
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