最佳投融资决策的经济学分析  

The Economic Analysis of the Optimal Investment and Financial Decisions

作　　者：刘杨[1] 张浩[2] 宫晓强 

机构地区：[1]大连理工大学,大连116023 [2]天津和平建工集团建筑工程有限公司,天津300070 [3]青岛天泰集团,青岛266041

出　　处：《价值工程》2008年第5期144-147,共4页Value Engineering

摘　　要：企业的投资决策和融资决策是企业经济活动中一对互动的经营链,是围绕企业价值来实现的。企业的投融资决策受到各利益主体(经营者、股东、债权人)行为的牵制和制衡。因此本文结合实际情形,分别对基于企业价值最大化和管理薪酬机制下的投融资决策问题进行分析,在一定程度上说明最佳的投融资决策是企业各行为主体利益权衡的结果。The investment and financial decision of enterprise is a pair of interactive working link, and is actualized around the enterprise value. Furthermore it is Implicated and restricted by the entire benefit individual. Consequently the paper combines with the real condition and analyties the investment and financial decision with the understanding of the optimal enterprise value and managerial compensation respectively. Generally the optimal investment and financial decision is the trade-off result of the entire benefit individual.

关 键 词：投融资决策 企业价值 管理薪酬 

分 类 号：F830.9[经济管理—金融学]