The Empirical Study of Product Market Competition,Debt Governance and Technical Innovation
Enterprises need a great of capital for technical innovation, but they can not get capital immediately.Technical innovation of enterprises is uncertainty and has long investment circle, which means risk of the technical innovation investment is serious.The aim of the paper is to study the relationship between debt and the technical innovation under the high interest and risk of bankruptcy by debt financing.A lot of papers show us that there is relationship between product market competition and capital structure, and debt can stimulate technical innovation of the enterprises.Is there relationship between debt governance and technical innovation of the enterprises under the different product market competition? We get the result by empirical analysis.
Product market competition Debt governance Capital structure Technical innovation
Huang Lei
Jiangxi University of Finance and Economics,Nanchang,330013
国内会议
南昌
英文
460-465
2010-10-30（万方平台首次上网日期，不代表论文的发表时间）