缓解投资融资约束:俄罗斯的所有权和透明度

IF 0.5 4区管理学 Q4 MANAGEMENT

Journal of East European Management Studies Pub Date : 2022-01-01 DOI:10.5771/0949-6181-2022-3-434

Anna Grosman

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引用次数: 2

摘要

本研究考察了在俄罗斯资本市场的独特背景下，透明度和披露分数对固定投资的影响。我发现透明度对固定投资有显著的积极影响。然而，与寡头企业相比，国有企业对提高透明度更为敏感。我发现强有力的证据表明，财务受限的公司提高透明度会对投资产生积极影响。因此，透明度是减少对投资的融资限制的有效机制。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Mitigating Financing Constraints on Investment: Ownership and Transparency in Russia

This study examines the impact of transparency and disclosure scores on fixed investment within the unique context of the Russian capital market. I find that transparency has a positive and significant impact on fixed investment. However, state-owned enterprises are more sensitive than oligarch-owned enterprises to improved transparency. I find robust evidence that greater transparency of financially constrained firms positively affects investment. Transparency, therefore, is a valid mechanism for reducing financing constraints on investment.

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来源期刊

Journal of East European Management Studies MANAGEMENT-

CiteScore

1.20

自引率

14.30%

发文量

期刊介绍： The Journal of East European Management Studies (JEEMS) aims to promote dialogue and cooperation among scholars from all countries who seek to examine, explore and explain the behaviour and practices of management within the transforming societies of Central and Eastern Europe.