摘要翻译:
本研究旨在为债务对企业盈利能力的影响提供新的实证证据。这种影响可以用三个基本理论来解释:信号传递理论、税收理论和代理成本理论。采用1999-2006年间2240家法国服务业非上市公司的面板数据样本。利用广义矩量法(GMM)计量技术,对三个盈利率指标(PROF1、PROF2和ROA)进行计量分析,发现无论公司规模大小(VSEs、SMEs或LEs),负债率对公司盈利率都没有影响
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英文标题:
《The effect of debt on corporate profitability : Evidence from French
service sector》
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作者:
Mazen Kebewar
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最新提交年份:
2014
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分类信息:
一级分类:Quantitative Finance 数量金融学
二级分类:General Finance 一般财务
分类描述:Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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英文摘要:
Current study aims to provide new empirical evidence on the impact of debt on corporate profitability. This impact can be explained by three essential theories: signaling theory, tax theory and the agency cost theory. Using panel data sample of 2240 French non listed companies of service sector during 1999-2006. By utilizing generalized method of moments (GMM) econometric technique on three measures of profitability ratio (PROF1, PROF2 and ROA), we show that debt ratio has no effect on corporate profitability, regardless of the size of company (VSEs, SMEs or LEs)
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PDF链接:
https://arxiv.org/pdf/1301.0072


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