农业上市公司融资约束水平研究——基于随机前沿法的分析

发布时间：2018-06-25 20:46

本文选题：农业上市公司 + 融资约束　；参考：《企业经济》2015年03期

【摘要】：以农业上市公司为样本以农业上市公司为样本,采用随机前沿法测算了农业上市公司融资约束水平,并分析了资产规模以及经营现金流量对其融资约束水平的影响。实证结果发现实证结果发现,农业上市公司总体融资约束水平较高,但自2009年以来农业上市公司融资约束有所缓解约束有所缓解;资产规模的上升有助于缓解农业上市公司的融资约束资产规模的上升有助于缓解农业上市公司的融资约束,经营现金流量的增加在一定程度上降低了农业上市公司融资面临的不确定性。基于此基于此,建议政府进一步完善农业企业金融服务体系,成立农业贷款风险补偿基金金,加大涉农信贷政策支持力度,完善农产品期货市场和农业保险;建议农业上市公司进一步提高集约化水平建议农业上市公司进一步提高集约化水平,注重农业技术创新农业技术创新,提高经营水平,进而有效缓解"融资难"问题。
[Abstract]:Taking agricultural listed companies as samples, this paper calculates the financing constraint level of agricultural listed companies by using stochastic frontier method, and analyzes the influence of asset size and operating cash flow on the financing constraint level of agricultural listed companies. The empirical results show that the overall financing constraints of agricultural listed companies are relatively high, but the financing constraints of agricultural listed companies have been eased since 2009; An increase in the size of assets will help ease the financing constraints of agricultural listed companies. The increase of operating cash flow reduces the uncertainty of financing of agricultural listed companies to some extent. Based on this, it is suggested that the government should further improve the financial service system of agricultural enterprises, set up a risk compensation fund for agricultural loans, increase the support of agricultural credit policy, and improve the agricultural product futures market and agricultural insurance. It is suggested that agricultural listed companies should further improve the level of intensification, pay attention to agricultural technological innovation and improve the management level, and then effectively alleviate the problem of "financing difficulties".
【作者单位】：山东大学经济学院;济南大学经济学院;人民银行济南分行;
【基金】：国家自然科学基金重点研究项目“民间金融风险民间金融风险:变迁、区域差异与治理研究”(批准号批准号:71333009);国家自然科学基金面上项目“小额贷款公司系统性风险的评估与度量研究”(批准号批准号:71273155)
【分类号】：F324;F302.6;F224

【相似文献】