Return to search

Customer Satisfaction , Cash Flow and Capital Structure

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 .

Identiferoai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0615107-215912
Date15 June 2007
CreatorsJie, Ko-wei
ContributorsHuang Jen-Jsung, David Shyu, Chen Miao Lin
PublisherNSYSU
Source SetsNSYSU Electronic Thesis and Dissertation Archive
LanguageCholon
Detected LanguageEnglish
Typetext
Formatapplication/pdf
Sourcehttp://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0615107-215912
Rightsnot_available, Copyright information available at source archive

Page generated in 0.0022 seconds