行业竞争程度、会计信息透明度与融资行为  

Industry Competition,Information Transparency and Financing Behavior

作　　者：徐辉[1] 刘明亮[1] 

机构地区：[1]石河子大学经济与管理学院,新疆石河子832003

出　　处：《石家庄铁道大学学报（社会科学版）》2010年第4期21-26,共6页Journal of Shijiazhuang Tiedao University（Social Science Edition）

摘　　要：以2005年至2006年深沪两市A股上市公司作为研究样本,探讨了行业竞争程度与会计信息透明度及融资行为之间的关系。研究发现,行业竞争越强,会计信息透明度越高。会计信息透明度与融资成本呈负相关关系,竞争程度和信息透明度在公司融资决策中存在互补效应。This paper,using listed companies in China＇s capital market from 2005 to 2006 as a sample,studies the relationship between industry competition and information transparency,and tries to find the main factors that affect financing behavior. Research indicates that there is a higher degree of information transparency with industry competition getting more intense. It is also found that there is a negative relationship between information transparency and financing cost,and industry competition and information transparency are mutually complementary in the financing behavior of a company.

关 键 词：行业竞争程度 信息透明度 融资行为 

分 类 号：F830[经济管理—金融学]