{"id":"https://openalex.org/W4205943136","doi":"https://doi.org/10.1145/3494583.3494637","title":"The Effect of Profitability on Capital Structure in China","display_name":"The Effect of Profitability on Capital Structure in China","publication_year":2021,"publication_date":"2021-09-27","ids":{"openalex":"https://openalex.org/W4205943136","doi":"https://doi.org/10.1145/3494583.3494637"},"language":"en","primary_location":{"id":"doi:10.1145/3494583.3494637","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3494583.3494637","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 7th International Conference on Industrial and Business Engineering","raw_type":"proceedings-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5083284089","display_name":"Shitian Li","orcid":"https://orcid.org/0000-0001-6342-2698"},"institutions":[{"id":"https://openalex.org/I13591777","display_name":"University of Nottingham Ningbo China","ror":"https://ror.org/03y4dt428","country_code":"CN","type":"education","lineage":["https://openalex.org/I13591777","https://openalex.org/I142263535"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Shitian Li","raw_affiliation_strings":["University of Nottingham Ningbo, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Nottingham Ningbo, China","institution_ids":["https://openalex.org/I13591777"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5101598045","display_name":"Junying Wang","orcid":"https://orcid.org/0000-0003-2155-8794"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Junying Wang","raw_affiliation_strings":["Chengdu Foreign Languages School, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Chengdu Foreign Languages School, China","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.2994,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":{"value":0.65801179,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":90,"max":94},"biblio":{"volume":null,"issue":null,"first_page":"159","last_page":"163"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9950000047683716,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9950000047683716,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.9596999883651733,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.9555000066757202,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/pecking-order-theory","display_name":"Pecking order theory","score":0.8130591511726379},{"id":"https://openalex.org/keywords/profitability-index","display_name":"Profitability index","score":0.7706409692764282},{"id":"https://openalex.org/keywords/capital-structure","display_name":"Capital structure","score":0.7497519850730896},{"id":"https://openalex.org/keywords/risk-adjusted-return-on-capital","display_name":"Risk-adjusted return on capital","score":0.5868657827377319},{"id":"https://openalex.org/keywords/china","display_name":"China","score":0.4648289680480957},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.45865389704704285},{"id":"https://openalex.org/keywords/financial-capital","display_name":"Financial capital","score":0.4260963201522827},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"Corporate governance","score":0.4219825565814972},{"id":"https://openalex.org/keywords/stock-market","display_name":"Stock market","score":0.41058433055877686},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.393506795167923},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.3591575622558594},{"id":"https://openalex.org/keywords/capital-formation","display_name":"Capital formation","score":0.30852869153022766},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.2897772192955017},{"id":"https://openalex.org/keywords/human-capital","display_name":"Human capital","score":0.1884748935699463},{"id":"https://openalex.org/keywords/market-economy","display_name":"Market economy","score":0.15116921067237854}],"concepts":[{"id":"https://openalex.org/C172983313","wikidata":"https://www.wikidata.org/wiki/Q1567268","display_name":"Pecking order theory","level":4,"score":0.8130591511726379},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.7706409692764282},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.7497519850730896},{"id":"https://openalex.org/C107584723","wikidata":"https://www.wikidata.org/wiki/Q1460626","display_name":"Risk-adjusted return on capital","level":5,"score":0.5868657827377319},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.4648289680480957},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.45865389704704285},{"id":"https://openalex.org/C44750222","wikidata":"https://www.wikidata.org/wiki/Q1897397","display_name":"Financial capital","level":3,"score":0.4260963201522827},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.4219825565814972},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.41058433055877686},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.393506795167923},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3591575622558594},{"id":"https://openalex.org/C58202505","wikidata":"https://www.wikidata.org/wiki/Q5035700","display_name":"Capital formation","level":4,"score":0.30852869153022766},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2897772192955017},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.1884748935699463},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.15116921067237854},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/3494583.3494637","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3494583.3494637","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 7th International Conference on Industrial and Business Engineering","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":3,"referenced_works":["https://openalex.org/W1963935117","https://openalex.org/W4288076309","https://openalex.org/W6789636754"],"related_works":["https://openalex.org/W41783694","https://openalex.org/W2222710731","https://openalex.org/W111125104","https://openalex.org/W41323867","https://openalex.org/W4254040875","https://openalex.org/W2908556464","https://openalex.org/W2686269057","https://openalex.org/W2268909515","https://openalex.org/W1553211266","https://openalex.org/W2365550890"],"abstract_inverted_index":{"Corporate":[0],"capital":[1,38,52,93,123,148],"structure":[2],"is":[3,42,58,64,126],"an":[4,65],"essential":[5],"determinant":[6],"of":[7,22,36,67,90,131],"company's":[8],"financial":[9],"risk":[10],"and":[11,17,24,71,78,122,139],"performance.":[12],"Due":[13],"to":[14,33,44,107,136],"global":[15],"economy":[16],"country":[18],"development,":[19],"the":[20,34,46,55,79,88,102,129,137],"lack":[21],"governance":[23],"theoretical":[25],"support":[26],"in":[27,109],"China":[28,110],"will":[29],"be":[30,144],"a":[31,59,117],"hindrance":[32],"development":[35],"Chinese":[37,147],"market.":[39,112,149],"Therefore,":[40],"it":[41,63],"necessary":[43],"study":[45],"main":[47,84],"factors":[48],"that":[49,86],"influence":[50],"corporate":[51],"structure.":[53,94],"Among":[54],"factors,":[56],"profitability":[57,91,121],"significant":[60],"one":[61],"because":[62],"indicator":[66],"firm's":[68],"operating":[69],"performance":[70],"growth":[72],"opportunity.":[73],"The":[74,113],"pecking":[75,132],"order":[76,133],"theory":[77,81],"trade-off":[80],"are":[82],"two":[83],"theories":[85],"explain":[87],"effects":[89],"on":[92,101],"This":[95],"article":[96],"conducts":[97],"empirical":[98],"research":[99],"based":[100],"data":[103],"collected":[104],"from":[105],"2016":[106],"2020":[108],"A-stock":[111],"regression":[114],"results":[115,138],"suggest":[116],"negative":[118],"relationship":[119],"between":[120],"structure,":[124],"which":[125],"consistent":[127],"with":[128],"prediction":[130],"theory.":[134],"According":[135],"theory,":[140],"better":[141],"guidance":[142],"can":[143],"provided":[145],"for":[146]},"counts_by_year":[{"year":2023,"cited_by_count":1}],"updated_date":"2026-06-11T09:08:48.828518","created_date":"2025-10-10T00:00:00"}
