Research on Effect of Financial Factors on Corporate Investment

摘要：

In this paper, the relationship between investment and financing of Chinese listed companies is studied and the hypothesis of financing preferences is tested based on neoclassical investment model. The results show that the equity finance, short-debt finance and long-debt finance have significant impacts on the firms investment scales. Among the various financing approaches, debt finance has the most significant impact on investment. Internal fund finance ranks the second, and the last one is equity finance. Furthermore, the relationship between investment and financing differs depending on the ownership structure.

关键词： Investment Internal Fund Short-debt Finance Long-debt Finance Equity Finance

作者: Qing Xiaocheng Zeng Yong

作者单位: School of Management and Economics, UESTC of China, Chengdu 610054, China

会议类型: 国际会议

会议名称: The 15th International Conference on Industrial Engineering and Engineering Management(IE&EM2008)(第十五届工业工程与工程管理国际学术会议暨中国机械工程学会第11次工业工程年会)

会议地点: 郑州

会议语种:英文

在线出版日期: 2008-09-20（万方平台首次上网日期，不代表论文的发表时间）