Factors affecting the capital structure of listed Chinese media companies.

The development of the capital market in China and the growing number of media companies have determined the expansion of ways to finance them: the growth of the financial market is due to the provision of services for the cultural industry, and companies in this sphere need to use the capabilities of the financial market to obtain funds. The use of multiple linear regression for empirical analysis has shown that the following factors demonstrate a significant positive correlation: non‐debt tax shield, growth and ratio of assets to liabilities; company size, growth and long‐term liabilities ratio; company size, volatility and current liabilities ratio. The results of the study are of statistical significance, they are recommended for use in future empirical studies by scientists, for representatives of government bodies in the field of culture and media in China that develop measures to optimize financing of this sector. [ABSTRACT FROM AUTHOR]