国有上市公司过度投资治理效应——可转换公司债券视角

发布时间：2018-11-06 20:22

【摘要】：我国国有企业过度投资现象凸显,亟待解决。在我国大力发展债券市场背景下,可转换公司债券作为连接债券市场和股票市场的桥梁,对于公司投资决策治理作用值得探讨。文章从可转换公司债券发行视角,着力于探寻可转债发行对我国国有企业过度投资问题的治理。研究结果表明,可转换公司债券的发行对于企业过度投资具有显著的限制作用。
[Abstract]:The phenomenon of excessive investment in state-owned enterprises in our country is prominent and urgent to be solved. Under the background of developing bond market vigorously in China, convertible corporate bonds, as a bridge between bond market and stock market, are worthy of discussion for corporate investment decision governance. From the perspective of convertible corporate bond issuance, this paper tries to explore the governance of excessive investment in state-owned enterprises by convertible bond issuance. The results show that the issuance of convertible corporate bonds has a significant effect on corporate overinvestment.
【作者单位】：首都经济贸易大学会计学院;
【基金】：教育部人文社会科学研究项目“国有企业破产清算的内部控制与风险预警研究”(项目编号:10YJA630106)的阶段性研究成果北京市教育委员会社科计划面上项目“准则变更、会计信息质量与投资者利益保护”的阶段性研究成果(项目编号:SM201410038003)
【分类号】：F275;F832.51

【参考文献】