中国中小企业板上市公司融资顺序经验研究  

Empirical study on financing order of listed firms of small & medium enterprise board(SMEB) in China

作　　者：刘建勇[1] 

机构地区：[1]中国矿业大学管理学院,江苏徐州221116

出　　处：《科技与管理》2008年第5期43-45,共3页Science-Technology and Management

基　　金：江苏省高校哲学社会科学基金(06SJD630059);中国矿业大学青年科研基金(2006A025)

摘　　要：以深圳中小企业板113家上市公司2006年年报数据为样本,分析了中小企业板上市公司的融资情况。研究结果表明:中小企业板上市公司资产负债率偏低,但融资顺序符合融资优序理论,即首选内部融资,其次选择银行借款,最后选择股权融资;在银行借款中,更加偏好短期借款。The author regards 2006 fiscal year data of 113 listed firms of SMEB as a research sample, and analyzes financing status of listed firms of SMEB,drawing the following research conclusions： the listed firms of SMEB have a low asset-liability ratio,but their financing order accords with pecking order theory,that is to say,firstly selecting interior financing, secondly bank loan, finally stock right financing, and preferring short-term bank loan.

关 键 词：中小企业板 融资优序理论 经验研究 

分 类 号：F276.3[经济管理—企业管理]