| 上市公司产品市场竞争与资本结构选择的实证分析 |
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| 引用本文： | 许敏,王伟. 上市公司产品市场竞争与资本结构选择的实证分析[J]. 财会通讯, 2006, 0(2) |
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| 作者姓名： | 许敏 王伟 |
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| 作者单位： | 南京工业大学经济管理学院 江苏南京210009 |
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| 基金项目： | 江苏省科学技术厅软科学研究项目(BR2005506)的资助 |
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| 摘 要： | 本文通过对2001￣2003年我国沪深两地上市公司的实证研究表明,产品市场竞争程度是资本结构决定的重要影响因素,产品市场竞争程度与资本结构的选择高度正相关,认为这种经营风险与财务风险不匹配现象与我国上市公司的股权融资效率低下和上市公司的竞争性战略选择有关。
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| 关 键 词： | 产品市场竞争 资本结构 经营风险 财务风险 |
An empirical study on the choice of capital structure and product market competition in china companies |
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| Xu Min Wei Wang. An empirical study on the choice of capital structure and product market competition in china companies[J]. Communication of Finance and Accounting, 2006, 0(2) |
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| Authors: | Xu Min Wei Wang |
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| Affiliation: | Nanjing University of Technology Nanjing Jiangsu 210009 |
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| Abstract: | through the empiracle study on listed companies from 2001 to 2003 in Shanghai and Shenzhen ; we find that product market competition is an important influential factor of capital structure. they are positive relevant. The mismatch of business risk and financial risk is partly because the low efficiency of stock financing and the choice of competitive strategies of listed companies. |
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| Keywords: | Product market competition Capital Structure Operating risk Financial risk |
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