宏观经济因素对工业企业债务的影响

发布时间：2018-04-13 16:48

本文选题：宏观经济 + 工业企业　；参考：《复旦大学》2014年硕士论文

【摘要】：本文以1998年至2007年之间中国工业企业数据库中的企业为研究样本,使用广义线性模型(GLM)的logit最大似然估计回归方法,分组研究了宏观经济因素对工业企业资产负债率以及债务融资成本的影响。结果表明,中国工业企业资产负债率是逆宏观经济波动的,而且这种影响并不随着所有制类型及所处区域的不同而发生改变,但是把企业按照大小分类后,发现大企业资产负债率对宏观经济的反应与小企业相反。宏观经济增长率对工业企业债务融资成本影响显著为负,而且这种影响不随企业类型及所处区域的变化而发生改变。
[Abstract]:In this paper, we use the logit maximum likelihood estimation method of the generalized linear model (GLM) to study the enterprises in the industrial enterprise database of China from 1998 to 2007.The effects of macroeconomic factors on the asset-liability ratio and debt financing cost of industrial enterprises are studied in groups.The results show that the asset-liability ratio of Chinese industrial enterprises is contrary to the macroeconomic fluctuation, and this influence does not change with the type of ownership and the region in which it is located, but after classifying the enterprises according to their size,It is found that the reaction of large enterprises to macro-economy is opposite to that of small enterprises.The macroeconomic growth rate has a negative effect on the debt financing cost of industrial enterprises, and this effect does not change with the change of enterprise type and the region in which it is located.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F425;F406.7

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