The Study on the Relationship between Debt Constraint and Investment Expenditure an empirical evidence from Chinas power listed companies
By empirical studying on the bases of the power listed companies finance data of 2005-2008 in China, this paper finds that the investment expenditure of Chinas power listed companies has a significantly negative relationship with the asset-liability ratio, short-term debt ratio, long-term debt ratio, bank loan ratio, commercial credit ratio, long-term ratio and short-term loan ratio. This indicates that debt can play a constraint role in investment expenditure of the power listed companies, and the constraint effects of the different maturity structures and category structures in debt does not have significant differences.
debt constraint debt maturity structure debt category structure investment expenditure
Yang Haoyu Zhou Ningning
School of business and management North China Electric Power University Beijing, China
国际会议
成都
英文
309-312
2010-07-09（万方平台首次上网日期，不代表论文的发表时间）