Using panel data comprising 144 Chinese private listed companies during 2001-2003, this paper empirically studies the relationship between the board characteristics and capital structure by estimate methods of pooled OLS, one order difference and fixed effect model.

  • 本文选择了144家民营上市公司最近三年的面板数据,分别运用混合OLS、一阶差分和固定效应估计等方法对董事会特征与资本结构之间的关系进行了实证分析。

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