公司政治关联的经济后果研究与展望  

Study and Prospect of Economic Consequences of Company Political Connection

作　　者：孙海凤[1] 于长春[2] 

机构地区：[1]中央财经大学会计学院,北京100081 [2]北京国家会计学院,北京101312

出　　处：《税务与经济》2012年第2期6-11,共6页Taxation and Economy

摘　　要：企业政治关联现象在世界各国普遍存在,并对企业财务行为和业绩产生重要的影响。目前政治关联对公司业绩、财务政策以及资本市场的影响已经日益成为财务与金融领域研究的热点问题。对于我国这样典型的转型和新兴经济体国家来说,政府在资源分配中具有很大的话语权,在宏观上充当着社会资源分配者的角色,在微观上干预着企业的行为,市场机制难以充分有效地发挥作用。深刻揭示企业建立政治关联的经济后果,并通过分析现有研究的困境,发掘新的研究方向,有利于深化我国企业政治关联问题的研究。Company political connection is prevailing in the world,and has a great impact on financial behavior and business achievements in a company.At present,the impact of political connection on business achievements,financial policy and capital market is becoming a hot issue.Since China is an emerging economy undergoing economic transformation,the government has the rights in the resource allocation.From the macro perspective,the government acts as the distributor of social resources;while from the micro perspective,the government interferes in the enterprise behavior.So it is difficult to give full play to the market mechanism.Therefore,it is important to expose the economic consequences of company political connection.And through the analysis of the existing research dilemma,it is also important to explore a new research direction so as to make a thorough study on company political connection.

关 键 词：政治关联 制度环境 公司价值 经济后果 

分 类 号：F270[经济管理—企业管理]