Correlation Analysis Between Capital Structure and Enterprise Value of Communication Service Industry Companies—A Case Study of Shanghai and Shenzhen A-share Listed Companies

  • Yan-liang Zhang
  • Rong-yuan Ma
  • Xi-yu Huang
Conference paper


Capital structure and enterprise value have a lot of contact, it is related to the overall development of the enterprise planning in practical, and related to how to find the best corporate capital structure in theoretical. At present, some scholars have conducted empirical analysis in many fields, including real estate, tourist industry, automobile industry and high-tech industry. However, there are very few researches on communication service companies. With the advent of the Internet era and the rapid development of communication services companies, this subject has the value of research. This paper mainly uses the method of empirical analysis to study the communication service companies of Shanghai and Shenzhen A shares, and finally selects the relevant data (total 115 valid samples) of 23 companies from 2013 to 2017. Excel and EViews 8.0 are mainly used on the data descriptive statistical analysis and multiple regression analysis.


Capital structure Corporate value Communication service industry DAR 



This research is supported by Humanity and Social Science Youth foundation of Ministry of Education of China under Grant #11YJC630291 to Yanliang Zhang. Thank this financial support.

Also thank the organizers of this meeting, thank my Advisor. Zhang’s and schoolmate Huang’s help and guidance in the collection of literature and writing.


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Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.School of Management EngineeringZhengzhou UniversityZhengzhouChina
  2. 2.School of Public AdministrationZhengzhou UniversityZhengzhouChina

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