不同成长性公司负债融资对投资行为的影响——基于“投资机会集”角度分析  

An Empirical Study on Influence of Debt Financing on Investment Behavior of Different Company’s Growth

作　　者：马才华[1] 刘东岩[1] 

机构地区：[1]江苏科技大学经济管理学院,江苏镇江212003

出　　处：《财会通讯（下）》2013年第5期49-52,共4页Communication of Finance and Accounting

摘　　要：":投资机会集"是对公司成长性进行理解的新角度,本文以2010年沪深A股制造业上市公司为研究对象,采用因子分析,从不同侧面分析了公司的"成长性",研究了不同成长性公司负债融资对投资行为的影响。发现负债融资对投资行为产生了不同作用。Investment Opportunity Set (IOS) is a new point of view to evaluate company’s growth. The paper take manufacturing listed companies in 2010 as research object, by using factor analysis, measure the company’s growth (IOS). After that, an empirical study of debt financing on investment behavior of different company’s growth (IOS) is followed. The purpose of the paper is to discuss whether the debt of different IOS has different effects on its investment behavior. The study suggests that company should establish a proper capital structure, utilize debt financing rationally and improve investment efficiency and effectiveness.

关 键 词：投资机会集 成长性 负债融资 投资行为 

分 类 号：F224[经济管理—国民经济] F425F832.51