The study focus on how customer satisfaction influence capital structure . Among lots of the theory of capital structure , if we reconsider the customer satisfaction ,we would explain the theory of capital structure deeply . We select the customer satisfaction index as our observable variable . In brief , our study have two main purposes ¡G
1.Does customer satisfaction influence capital structure ?
2.If customer satisfaction influence capital structure by cash f low , how would it influence capital structure .
This paper employs a database containing the market and accounting data (from 1996 to 2005) from more than 40 NYSE-listed companies(212 samples) to document our empirical study . We find that customer satisfaction has significant impact on capital structure by cash flow and the capital structure is nearly the same as the pecking order theory ¡Awhich suggest that firms are said to prefer retained earnings as their main source of funds for investment .
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0615107-215912 |
| Date | 15 June 2007 |
| Creators | Jie, Ko-wei |
| Contributors | Huang Jen-Jsung, David Shyu, Chen Miao Lin |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0615107-215912 |
| Rights | not_available, Copyright information available at source archive |
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