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According to the new risk asset pricing theory, individual stock price volatility can increase investors' required return, so it can affect the company's cost of equity capital. This study investigates the effect of stock price volatility on listed companies' financing behavior in China, and finds that the listed companies' stock price volatility has obvious effect on its financing decision; and the...
According to the pecking order theory, among the company's external financing channels, debt financing should be selected firstly. Based on financial market microstructure measuring method of information asymmetry and Fama- MacBeth regression technology, the study finds that Chinese listed companies' ratio of debt increases with information asymmetry. When listed companies' financial deficit is higher,...
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