基于计划行为理论的家族企业资本结构形成路径研究:实证分析及稳健性检验

以计划行为理论为研究框架对家族企业的资本结构形成过程进行理论分析和实证检验,研究发现家族企业的资本结构形成路径是以家族企业家的融资意向为起点,然后上升为企业融资决策,进一步转化为融资行为,最后形成特定资本结构的过程。实证检验的结果不仅支持理论推导的路径模型,同时表明,即便企业发生重大变动,计划行为理论模型在解释家族企业资本结构形成上仍然适用,家族企业资本结构形成路径具有稳定性。

Research on the Forming Path of Capital Structure of Family Enterprises Based on TPB:Empirical Analysis and Stabile Test

Based on the Theory of Planned Behavior,the forming path of Chinese family business capital structure is analyzed in this paper.Result shows that the forming path is a process beginning with family entrepreneur's financing intention,based on which the enterprise's financing decision is made and gradually develops into its financing action and ultimately into its capital structure.The empirical result not only supports the theoretical model,but also shows that the TPB model will maintain valid in explaining ...