权衡理论和优序融资理论模型与实证

发布时间：2018-05-31 05:49

本文选题：权衡理论 + 优序融资理论　；参考：《统计与决策》2017年11期

【摘要】：文章从权衡理论和优序融资理论的演进过程切入,以大量数据样本检验比较两种理论在中英两国资本市场的解释效力。实证结果表明:权衡理论的解释力优于优序融资理论,中国资本市场的融资行为基本可以用权衡理论来解释,但是对于英国的上市公司来说两个理论都有一定的适用条件。
[Abstract]:Based on the evolution of trade-off theory and preferential financing theory, this paper compares the explanatory effects of the two theories in the capital markets of China and Britain with a large number of data samples. The empirical results show that the explanatory power of the trade-off theory is better than that of the preferential financing theory, and the financing behavior of the Chinese capital market can be explained by the trade-off theory, but both theories have certain applicable conditions for the listed companies in Britain.
【作者单位】：西安交通大学经济与金融学院;西安工业大学审计处;
【基金】：西安交通大学人文社科交叉项目资助项目(SK2012036)
【分类号】：F224;F275

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