產(chǎn)品市場競爭與財務(wù)保守行為——模型與燕京啤酒實例分析.doc
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產(chǎn)品市場競爭與財務(wù)保守行為——模型與燕京啤酒實例分析, 【本文共15頁 9600字左右】[摘要] 企業(yè)財務(wù)保守行為近年來在資本結(jié)構(gòu)研究中受到關(guān)注。本文構(gòu)造了一個兩階段模型，考察當(dāng)企業(yè)必須加大投資的條件下，產(chǎn)品市場未來競爭程度預(yù)期與企業(yè)當(dāng)前債務(wù)規(guī)模的關(guān)系。模型表明，當(dāng)企業(yè)預(yù)期未來競爭程度越激烈，當(dāng)前選擇的債務(wù)規(guī)模也越低，從...
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產(chǎn)品市場競爭與財務(wù)保守行為
——模型與燕京啤酒實例分析
【本文共15頁 9600字左右】
[摘 要] 企業(yè)財務(wù)保守行為近年來在資本結(jié)構(gòu)研究中受到關(guān)注。本文構(gòu)造了一個兩階段模型，考察當(dāng)企業(yè)必須加大投資的條件下，產(chǎn)品市場未來競爭程度預(yù)期與企業(yè)當(dāng)前債務(wù)規(guī)模的關(guān)系。模型表明，當(dāng)企業(yè)預(yù)期未來競爭程度越激烈，當(dāng)前選擇的債務(wù)規(guī)模也越低，從而產(chǎn)生財務(wù)保守行為。本文對燕京啤酒財務(wù)保守行為進行了分析，證實本文的模型。
[關(guān)鍵詞] 財務(wù)保守 產(chǎn)品市場競爭 資本結(jié)構(gòu)
【目錄】
一．問題提出
二、模型
三．燕京啤酒財務(wù)保守行為分析
四．結(jié)論及實踐意義
參考文獻
[1] Baker,G.P.1993,"Growth,corporate policies, and the investment opportunity set," Journal of Accounting and Economics 16
[2] Barclay, M.J.,and C.W.Smith,1995a,"The maturity structure of corporate debt," Journal of Finance 50
[3] Barclay, M.J.,and C.W.Smith,1995b,"The priority structure of corporate debt," Journal of Finance 50
[4] Barclay, M.J.,C.W.Smith,and R.Watts,1995,"The Determinants of Corporate Leverage and Dividend Policies," Journal of Applied Corporate Finance 7
[5] Barclay, Michael J., Erwan Morellec and Clifford W.Smith, Jr.,2001," On the debt capacity of growth options"
——模型與燕京啤酒實例分析
【本文共15頁 9600字左右】
[摘 要] 企業(yè)財務(wù)保守行為近年來在資本結(jié)構(gòu)研究中受到關(guān)注。本文構(gòu)造了一個兩階段模型，考察當(dāng)企業(yè)必須加大投資的條件下，產(chǎn)品市場未來競爭程度預(yù)期與企業(yè)當(dāng)前債務(wù)規(guī)模的關(guān)系。模型表明，當(dāng)企業(yè)預(yù)期未來競爭程度越激烈，當(dāng)前選擇的債務(wù)規(guī)模也越低，從而產(chǎn)生財務(wù)保守行為。本文對燕京啤酒財務(wù)保守行為進行了分析，證實本文的模型。
[關(guān)鍵詞] 財務(wù)保守 產(chǎn)品市場競爭 資本結(jié)構(gòu)
【目錄】
一．問題提出
二、模型
三．燕京啤酒財務(wù)保守行為分析
四．結(jié)論及實踐意義
參考文獻
[1] Baker,G.P.1993,"Growth,corporate policies, and the investment opportunity set," Journal of Accounting and Economics 16
[2] Barclay, M.J.,and C.W.Smith,1995a,"The maturity structure of corporate debt," Journal of Finance 50
[3] Barclay, M.J.,and C.W.Smith,1995b,"The priority structure of corporate debt," Journal of Finance 50
[4] Barclay, M.J.,C.W.Smith,and R.Watts,1995,"The Determinants of Corporate Leverage and Dividend Policies," Journal of Applied Corporate Finance 7
[5] Barclay, Michael J., Erwan Morellec and Clifford W.Smith, Jr.,2001," On the debt capacity of growth options"
