| 股市泡沫与公司投融资行为 |
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| 引用本文： | 陈凤珠,王永才.股市泡沫与公司投融资行为[J].特区经济,2007(3):119-121. |
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| 作者姓名： | 陈凤珠 王永才 |
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| 作者单位： | 1. 江苏省地质矿产局,第二地质大队
2. 中南财经政法大学,公共管理学院,湖北,武汉,430073 |
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| 摘 要： | 股市的泡沫会如何影响公司的融资和投资决策?本文以一个模型讨论了这个问题。分析结果表明,当公司管理层认识到泡沫并能利用泡沫的时候,会表现出股权偏好的特征,投资方面,从外部投资者的角度来看,公司显得在某些项目上投资不足,在某些项目上投资过度。同时,本文的结论还有助于解释公司在上市后的业绩下滑现象。
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| 关 键 词： | 泡沫 投资 融资 股权偏好 |
Stock market's bubble and company's investment and financing behavior |
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| Chen Feng Zhu,Wang Yong Cai.Stock market''''s bubble and company''''s investment and financing behavior[J].Special Zone Economy,2007(3):119-121. |
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| Authors: | Chen Feng Zhu Wang Yong Cai |
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| Abstract: | How stock price bubbles influence corporate financing and investment decisions This paper discusses the question using a model.The results indicate that if the company realizes stock price bubbles and can make use of them freely,it will seem to prefer equity financing to others.In investment decisions,from the perspective of outside investors,the company performs somewhat strange,that is,underinvestment in some projects and overinvestment in other projects.At the same time,the results of the paper can help to explain the performance decline after IPO of the company. |
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| Keywords: | Bubble Investment Financing Equity preference |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
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