EN
Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges
Abstract
The Study collects panel data of listed firms in New York Stock and Shanghai Stock Exchanges during 1992 to 2008. The data are used to perform panel regression estimates for firms in each stock market. The main purpose is to compare the decision on dividend payout of listed firms in the two stock markets. The results from fixed effect estimates show that factors that can explain dividend payout of firms in New York Stock Exchange poorly explain dividend payout of firms in Shanghai Stock Exchange. This paper adds to the literature in that it provides an evidence of difference in dividend policy of firms between advanced and emerging stock markets. For policymakers in the Chinese economy, implementation of measures to enhance the advancement of bond market is necessary. Additionally, firms in Shanghai Stock Exchange should adjust their capital structure to provide room for investors to diversify and adjust their portfolios of stocks and bonds.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
March 1, 2013
Submission Date
March 1, 2013
Acceptance Date
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Published in Issue
Year 2013 Volume: 3 Number: 1
APA
Jiang, J., & Jiranyakul, K. (2013). Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges. International Journal of Economics and Financial Issues, 3(1), 113-121. https://izlik.org/JA63ET59JR
AMA
1.Jiang J, Jiranyakul K. Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges. IJEFI. 2013;3(1):113-121. https://izlik.org/JA63ET59JR
Chicago
Jiang, Jun, and Komain Jiranyakul. 2013. “Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges”. International Journal of Economics and Financial Issues 3 (1): 113-21. https://izlik.org/JA63ET59JR.
EndNote
Jiang J, Jiranyakul K (March 1, 2013) Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges. International Journal of Economics and Financial Issues 3 1 113–121.
IEEE
[1]J. Jiang and K. Jiranyakul, “Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges”, IJEFI, vol. 3, no. 1, pp. 113–121, Mar. 2013, [Online]. Available: https://izlik.org/JA63ET59JR
ISNAD
Jiang, Jun - Jiranyakul, Komain. “Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges”. International Journal of Economics and Financial Issues 3/1 (March 1, 2013): 113-121. https://izlik.org/JA63ET59JR.
JAMA
1.Jiang J, Jiranyakul K. Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges. IJEFI. 2013;3:113–121.
MLA
Jiang, Jun, and Komain Jiranyakul. “Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges”. International Journal of Economics and Financial Issues, vol. 3, no. 1, Mar. 2013, pp. 113-21, https://izlik.org/JA63ET59JR.
Vancouver
1.Jun Jiang, Komain Jiranyakul. Capital Structure, Cost of Debt and Dividend Payout of Firms in New York and Shanghai Stock Exchanges. IJEFI [Internet]. 2013 Mar. 1;3(1):113-21. Available from: https://izlik.org/JA63ET59JR