Incomplete Contracts, Technology Improvement Financing and Financial System Models

摘要：

Technology improvement financing is in the environment of incomplete contracts. Whether to refinance technology improvement is often the key of whether it can continue. Mechanisms of refinancing in different financial system models are different to some extent. Whether however, no matter the bank-based financial system, or the market-based financial system, there is no inevitable superiority. The probability of success in technology improvement project and the probability of occurring exogenous shocks are the key to comparing different financing ways, even financial system models.

关键词： Incomplete Contracts Technology Improvement Financing Financial System Models

作者: Huadong Xiao

作者单位: Business school, Jianghan University, Wuhan, 430056, China

会议类型: 国际会议

会议名称: The Ninth Wuhan International Conference on E-Business(第九届武汉电子商务国际会议)

会议地点: 武汉

会议语种:英文

页码: 1248-1252

在线出版日期: 2010-05-29（万方平台首次上网日期，不代表论文的发表时间）