金融生态环境、资本结构与公司成长性  

Financial Ecological Environment,Capital Structure and Growth

作　　者：李生道[1] 王静[1] 王尧[2] 

机构地区：[1]西北农林科技大学经济管理学院,陕西杨凌712100 [2]浙江大学管理学院,浙江杭州310058

出　　处：《中国科技论坛》2014年第5期106-111,共6页Forum on Science and Technology in China

基　　金：教育部新世纪优秀人才支持计划(NCET-11-0443);国家自然科学基金(71373207)

摘　　要：本文利用因子分析法计算公司成长性综合得分,采用门槛面板模型对上市公司资本结构与成长性之间的关系进行实证研究。研究结果表明,金融生态环境对资本结构与成长性之间的关系有显著的门槛阀值效应,在较低金融生态环境下,资本结构与成长性负相关;而在较高金融生态环境下,资本结构与成长性正相关。This paper uses factor analysis method to calculate the companies＇ composite growth score. And it tests the effect of capital structure on growth with different financial ecological environment by using panel threshold model. The results show that financial ecolog- ical environment has significant threshold effects on the relationship between capital structure and growth. Capital structure and growth are negatively related under low financial ecological environment and positively related under high financial ecological environment

关 键 词：金融生态环境 资本机构 门槛面板模型 

分 类 号：F832.1[经济管理—金融学]