| 中国上市公司债务期限结构分析 |
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| 引用本文： | 王辉. 中国上市公司债务期限结构分析[J]. 江西财经大学学报, 2009, 0(2): 10-15 |
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| 作者姓名： | 王辉 |
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| 作者单位： | 江西财经大学金融发展与风险防范研究中心,江西,南昌,330013 |
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| 摘 要： | 对我国上市公司债务期限结构影响因素进行检验的结果表明,我国上市公司债务期限结构的影响因素较为稳定,内生性对其不构成显著影响.我国上市公司的债务期限与企业规模正相关,与企业财务实力、资本结构负相关,与其他因素没有显著关系.对债务期限和成长性关系的检验结果表明,我国企业应对成长机会变化的工具是财务杠杆而不是债务期限.代理成本理论不能解释我国上市公司债务期限结构的选择行为.
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| 关 键 词： | 上市公司 债务期限结构 内生性 代理成本理论 |
On the Debt Maturity Structure of China' s Listed Companies |
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| WANG Hui. On the Debt Maturity Structure of China' s Listed Companies[J]. Journal of Jiangxi University of Finance and Economics, 2009, 0(2): 10-15 |
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| Authors: | WANG Hui |
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| Affiliation: | Research Center for Financial Development and Risk Prevention;Jiangxi University of Finance and Economics;Nanchang 330013;China |
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| Abstract: | With a study of the factors influencing the debt maturity structure of listed companies in China,this research shows that the factors are not subject to dramatic changes while endogeneity does not affect the structure significantly.The debt maturity of China's listed companies is positively correlated with the scale of the enterprises,negatively with the enterprise's financial strength and their capital structures and insignificantly with other factors.A test of the relations between debt maturity and growt... |
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| Keywords: | listed company debt maturity structure endogeneity agency cost theory |
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