虚拟经济适度发展对企业投资效率的影响——基于虚拟经济与实体经济协调发展的视角

发布时间：2018-04-11 01:29

本文选题：投资效率 + 虚拟经济　；参考：《山东大学学报(哲学社会科学版)》2017年03期

【摘要】：从微观企业的投资行为出发,考察虚拟经济适度发展影响企业投资效率的微观传导途径。通过在投资项目市场价值评价模型中引入虚拟经济与实体经济协调发展因子,构建企业的投资决策理论模型,以2001 2014年我国上市公司的经验数据为样本,通过实证分析,得出结论:虚拟经济发展对我国企业投资效率的影响并不明确,而虚拟经济与实体经济的协调发展能够显著促进我国企业投资效率的提高。在进一步分析中发现,对于不同产权性质和不同融资约束程度的企业,虚拟经济与实体经济的协调发展对其投资效率所产生的影响也存在差异。
[Abstract]:Starting from the investment behavior of micro enterprises, this paper investigates the micro transmission ways that the moderate development of fictitious economy affects the investment efficiency of enterprises.By introducing the coordinated development factor of virtual economy and real economy into the evaluation model of market value of investment projects, this paper constructs the investment decision theory model of enterprises, and takes the empirical data of Chinese listed companies in 2001 and 2014 as samples, through empirical analysis.The conclusion is that the influence of the development of virtual economy on the investment efficiency of Chinese enterprises is not clear, and the coordinated development of virtual economy and real economy can significantly promote the improvement of investment efficiency of Chinese enterprises.In the further analysis, it is found that for enterprises with different property rights and different degree of financing constraints, the coordinated development of virtual economy and real economy has different effects on their investment efficiency.
【作者单位】：中国海洋大学管理学院;中国海洋大学经济学院;
【基金】：广义虚拟经济研究专项课题“广义虚拟经济视角下虚拟经济对企业投资行为的影响研究”(GX2015-1010(Y))
【分类号】：F124;F275

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