On the Regional Disparity of Capital Structure Adjustment of Listed Firms and Its Influencing Factors:Based on the Sample of A-Share Listed Firms in Shanghai and Shenzhen Stock Market During 2000~2009
研究中国上市公司资本结构调整速度的区域差异，发现东部地区调整最快，且GDP实际增长是重要影响因素。
In a large economy with regional economic development imbalance and obvious regional disparity, whether there is regional disparity of capital structure adjustment of listed company or not.How does the macro-economic environment affect the company's capital structure? This paper examines the capital structure adjustment speed and the main factors through the qualitative and quantitative analysis of 783 listed companies during 2000～2009.Through sub-regional panel data and Logit QMLE tow method estimated result reveal that:capital structure of listed companies is affected not only by their own variables,but also by the actual growth of GDP. There is significant regional disparity among capital structure adjustment,and the company in China's east areas has the fastest capital structure adjustment.