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| 我国上市公司杠杆治理效应的实证分析 | |
| 引用本文： | 陈铭新,杨洋. 我国上市公司杠杆治理效应的实证分析[J]. 石家庄经济学院学报, 2007, 30(6): 43-46 |
| 作者姓名： | 陈铭新 杨洋 |
| 作者单位： | 华侨大学,商学院,福建,泉州,362021;华侨大学,商学院,福建,泉州,362021 |
| 摘 要： | 根据西方杠杆治理理论，从实证角度对我国上证50和中小企业板块中的上市公司的代理成本与资产负债率的关系进行分析。由于我国银行对企业约束的加强，上市公司的代理成本都随着负债的增加而降低了。杠杆治理效应在中小企业得到体现，但在上证50中却没有很好的显现，银行对这些公司的约束还应进一步加强。 |
| 关 键 词： | 杠杆治理 代理成本 预算约束 |
| 文章编号： | 1007-6875（2007）06-0043-04 |
| 收稿时间： | 2007-10-10 |
| 修稿时间： | 2007-10-10 |
An Empirical Study on Leverage Governance of China Listed Companies |
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| CHEN Ming-xin,YANG Yang. An Empirical Study on Leverage Governance of China Listed Companies[J]. Journal of Shijiazhuang University of Economics, 2007, 30(6): 43-46 | |
| Authors: | CHEN Ming-xin YANG Yang |
| Abstract: | This paper mainly analyzes the relationship between agency costs and Debt-to-asset ratio of China's public listed firms in shangzheng50 and SMEs board based on the western debt governance theories.As the banks of China strengthen the budget constraints,the public listed firms' agency costs are reduced with the increase of the debt.The effect of debt governance is visible in SMEs but is not obvious in shangzheng50.The bank should further strengthen the constraints of these companies. |
| Keywords: | debt governance agency costs budget constraints |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ | |