本篇美国代写-上市公司杠杆效应分析的研究方法，分析了公司治理与财务杠杆之间的关系。财务杠杆是影响企业财务杠杆效应的重要因素。在我国，由于公司治理问题和证券交易所的不良声誉，财务杠杆效应越来越受到关注。为了了解财务杠杆对中国上市公司的影响，我们收集了50多家上市公司近5年来在金融、科技、互联网、医疗和农业科技等各个领域的数据。为了了解效果，使用了GARCH模型。使用EVIEWS统计软件分析GARH模型(Chorro et al.， 2014)。最佳选择的GARCH模型将是GJR GARCH模型，因为它提供了最精确和适当的所需结果。
This chapter details out the research methodology, model and collection of data for the leverage effect analysis and relation between corporate governance & financial leverage for all 50 Chinese listed companies. Financial leverage is critical factor for financial leverage effect on the companies. In China, the financial leverage effect is becoming concern due to corporate governance issues and bad reputation among stock exchange. To understand the financial leverage effect on Chinese listed companies, more than 50 listed company’s data is gathered for last 5 years in various sectors like finance, technology, internet, health and aggrotech. In order to understand the effect, there is GARCH model used. GARH Model is analysed using EVIEWS Statistical software (Chorro et al., 2014). The best selected GARCH model will be GJR GARCH model as this provides most precise and appropriate required results.
Consider all observations for all 50 Chinese listed companies
Fit all required models as discussed above
The appropriate model will be verified as per the given data sets and objective of the model
For each model, the analysis will be done for VaR 95% and VaR 99%
The model will not be re-estimated after each new observation based on the above VaR value
Remove earlier observations and do next few more observations to test
Repeat this process until the end of period
The dependency of the number of models and the VaR estimates are normally dependent on each series individually. For most of all stocks of 50 Chinese listed companies the most selected model will be GJR GARCH. The required statistical analysis, graphs, charts and tables will be produced as per need to the objective of the study and the discussion will be done based on the output or results in the next chapter.
In order to make sure that this research without any issues, the researcher has maintained some ethical considerations as given below:
The researchers directly used the data from the given open source for all 50 Chinese listed companies
The data gathered from the yahoo finance database was not reproduced or sold to any third party except use in this research study
The researchers identified the right model as appropriate with help of existing researches
The researcher provided the references wherever the content was referred or used in this research