产品市场竞争、企业成长性与资本结构调整速度关系研究  

On the Relationship Between Product Market Competition,Enterprise Growth and the Speed of Capital Structure Adjustment

作　　者：赵志伟 丁桦[1] 雍鑫 ZHAO Zhi-wei;DING Hua;YONG Xin(Qinghai Minzu University,Xining 810000,China)

机构地区：[1]青海民族大学经济与管理学院,青海西宁810000

出　　处：《哈尔滨学院学报》2024年第4期31-35,共5页Journal of Harbin University

摘　　要：文章以2010—2020年沪深A股上市公司为研究样本,采用系统广义矩估计的方法,实证分析了产品市场竞争、企业成长性与资本结构调整速度之间的关系。实证研究表明:(1)资本结构的调整速度随着产品市场竞争程度的提高而提高;(2)企业成长性越高,资本结构的调整速度越快;(3)企业成长性的提高使产品市场竞争激烈的企业资本结构调整速度提高更快。Based on the sample of Shanghai and Shenzhen A-share listed companies from 2010 to 2020,this paper empirically analyzes the relationship between product market competition,enterprise growth and the speed of capital structure adjustment by using the method of system generalized moment estimation.The empirical study shows that:(1)the speed of capital structure adjustment increases with the improvement of product market competition;(2)the higher the growth of enterprises,the faster the adjustment of capital structure;(3)the improvement of enterprise growth makes the adjustment of capital structure of enterprises with fierce product market competition faster.

关 键 词：产品市场竞争 企业成长性 系统广义矩估计 资本结构 

分 类 号：F275[经济管理—企业管理]