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1、.中文3150字，2100單詞，10800英文字符出處：AborJ.Theeffectofcapitalstructureonprofitability:anempiricalanalysisoflistedfirmsinGhana[J].JournalofRiskFinance,2005,6(November):438-445.外文翻譯Theeffectofcapitalstructureonprofitability:anempiricalanalysisoflistedfirmsinGhanaAuthor:Joshua
2、AborIntroductionThecapitalstructuredecisioniscrucialforanybusinessorganization.Thedecisionisimportantbecauseoftheneedtomaximizereturnstovariousorganizationalconstituencies,andalsobecauseoftheimpactsuchadecisionhasonafirm’sabilitytodealwithitscompetitiveenvironment.
3、Thecapitalstructureofafirmisactuallyamixofdifferentsecurities.Ingeneral,afirmcanchooseamongmanyalternativecapitalstructures.Itcanissuealargeamountofdebtorverylittledebt.Itcanarrangeleasefinancing,usewarrants,issueconvertiblebonds,signforwardcontractsortradebondswap
4、s.Itcanissuedozensofdistinctsecuritiesincountlesscombinations;however,itattemptstofindtheparticularcombinationthatmaximizesitsoverallmarketvalue.Anumberoftheorieshavebeenadvancedinexplainingthecapitalstructureoffirms.Despitethetheoreticalappealofcapitalstructure,re
5、searchersinfinancialmanagementhavenotfoundtheoptimalcapitalstructure.Thebestthatacademicsandpractitionershavebeenabletoachieveareprescriptionsthatsatisfyshort-termgoals.Forexample,thelackofaconsensusaboutwhatwouldqualifyasoptimalcapitalstructurehasnecessitatedthene
6、edforthisresearch.Abetterunderstandingoftheissuesathandrequiresalookattheconceptofcapitalstructureanditseffectonfirmprofitability.ThispaperexaminestherelationshipbetweencapitalstructureandprofitabilityofcompanieslistedontheGhanaStockExchangeduringtheperiod1998-2002
7、.TheeffectofcapitalstructureontheprofitabilityoflistedfirmsinGhanaisascientificareathathasnotyetbeen....exploredinGhanaianfinanceliterature.Thepaperisorganizedasfollows.Thefollowingsectiongivesareviewoftheextantliteratureonthesubject.Thenextsectiondescribesthedataa
8、ndjustifiesthechoiceofthevariablesusedintheanalysis.Themodelusedintheanalysisisthenestimated.Thesubsequentsectionpresentsanddiscussestheresultsof
