A Study on the Relevance of Debt Maturity Structure to Inefficient Investment Behavior under the Financial Crisis

摘要：

　　This article uses manufacturing listed companies in China as the research object,using financial data from 2004 to 2011 to research the influence of the debt maturity structure on inefficient investment behavior,and the model is added the macro factors.The empirical result indicates that short-term liabilities and long-term liabilities cant constraint the behavior of excessive investment behavior.Under the financial crisis,the inhibition of short-term liabilities to overinvestment begins to appear.Short-term liabilities and long-term liabilities cannot control the effect of underinvestment,under the financial crisis and the control ability of short-term liabilities begins to appear.

关键词： Short-term liabilities Long-term liabilities Inefficiency investment

作者: YAN Jiating LU Qingchun

作者单位: Business School of Hohai University,Nanjing,China,211100

会议类型: 国际会议

会议名称: the 5th (2013)International Conference on Financial Risk and Corporate Finance Management(第五届(2013)金融风险与公司金融国际研讨会)

会议地点: 大连

会议语种:英文

页码: 69-73

在线出版日期: 2013-06-29（万方平台首次上网日期，不代表论文的发表时间）