Financial Ecological Environment,Capital Structure and Growth
Li Shengdao1, Wang Jing1, Wang Yao2
1. School of Economics and Management, Northwest A&F University, Yangling 712100, China; 2. School of Management, Zhejiang University, Hangzhou 310058, China
Abstract：This paper uses factor analysis method to calculate the companies' composite growth score. And it tests the effect of capital structure on growth with different financial ecological environment by using panel threshold model. The results show that financial ecological environment has significant threshold effects on the relationship between capital structure and growth. Capital structure and growth are negatively related under low financial ecological environment and positively related under high financial ecological environment
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