产业竞争特征对企业债务融资决策的影响:来自中国的证据

Proceedings of ICSSSM '05. 2005 International Conference on Services Systems and Services Management, 2005. Pub Date : 2005-06-13 DOI:10.1109/ICSSSM.2005.1499491

Hong Zeng, Susie Xi Rao

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摘要

运用动态实证模型研究不同竞争形式下企业的债务融资决策，包括如何决定资本结构以及债务融资与股权融资之间的决策。结果表明，债务融资决策与产业竞争特征之间存在重要联系，完全竞争企业在债务融资决策时比垄断企业更为理性。

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Impact of industrial competitive characteristic on firms' debt financing decision: evidence from China

Study on debt financing decision of firms in different competitive forms by a dynamic empirical model, includes how to decide the capital structure and the decision between debt financing and equity financing. Result shows that there is important linkage between debt financing decision and industrial competitive characteristic, and when deciding debt financing, completely competitive firms are more rational than monopoly ones.

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Proceedings of ICSSSM '05. 2005 International Conference on Services Systems and Services Management, 2005.

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