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英语翻译声明:直接用翻译机的就别来了.提示:内部融资:external equity financing 优序理论:Pe

来源:学生作业帮 编辑:百度作业网作业帮 分类:英语作业 时间:2024/05/18 07:42:32
英语翻译
声明:直接用翻译机的就别来了.
提示:内部融资:external equity financing 优序理论:Pecking Order Theory
随着近几年中国资本市场环境的改善,企业融资行为会不会发生变化?我们选取43家福建省上市公司作为研究对象,研究了不同规模、成长性、和净资产收益率的上市公司的融资顺序安排,进而验证中国的上市公司融资顺序是否与融资优序理论相符及原因.由实证分析可以看到,在我国的资本市场上,上市公司内部融资明显偏大于外部融资,虽然与优序理论相悖,但不同过去的研究文献结果,中国资本市场的融资顺序发生了明显的变化
英语翻译声明:直接用翻译机的就别来了.提示:内部融资:external equity financing 优序理论:Pe
As the environment of the capital market in China improves,will enterprises change their financing behavior?To answer the question,we've selected 43 public companies from Fujian province as our objects to study the financing arrangements in different companies with varied scale,growth rate and net asset earnings,so as to verify if the order of financing matches Pecking Order Theory and why.From the analysis it appears that in our capital market,the public companies use more internal equity financing than external financing.Though contradicted to the Pecking Order Theory,the order of financing,unlike the results of past literature,has made obvious changes in China's capital market.