Abstract The paper studies the impact of consolidation of the two taxes on capital structure by sampling the listed companies with difference-in-difference model and multiple regression analysis method. Further analysis is made on the different characteristics of imbalanced financial market development influence on the capital structure. It shows that the firm's libility decreases singnificantly with a decresing tax rate. In a perfectly developed financial market, tax rate change has a singnificant impact on frim’s libility.
SHANG Ying-Mei,HUANG Meng-Feng,LI Fu-Lai. Financial Market Development, Consolidation of the Two Taxes and Capital Structure. Economic Survey, 2012, 1(3): 0151.
2012, Vol. 1 
