Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

Product Market Competition and Dynamic Adjustment in Capital Structure

No metrics data to plot.
The attempt to load metrics for this article has failed.
The attempt to plot a graph for these metrics has failed.
The full text of this article is not currently available.

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this article

+ Tax (if applicable)
Add to Favorites
You must be logged in to use this functionality

Based on the balanced panel data of Chinese listed firms from 1999 to 2004, this paper studies the relationship between product market competition and dynamic adjustment in capital structure. Results show that, from both static and dynamic perspectives, product market competition and its changes have significant influence on the degree of deviation of a firm’ s present capital structure from its targeted one. Specifically, the more intensive the product market competition, the smaller the capital structure deviation. Meanwhile, capital structure deviation tends to decrease in a market characterized by increasingly fierce competition. However, evidence also reveals that product market competition and the speed of the capital structure adjustment are independent from one another.


Full text loading...


Data & Media loading...

Article metrics loading...



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Subscribe to ToC alert
  • Get permissions
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    Frontiers of Literary Studies in China — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation