中国上市公司融资决策的产品生命周期因素分析被引量：5

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摘要实证检验证明,中国上市公司的资产负债率与产品生命周期存在显著的负相关关系。随着产品生命周期阶段的上升,公司更加偏好债务融资,进而增加了其资金风险和经营风险。与成长期相比,成熟期内资产负债率与公司产品获利能力的负相关关系更大。在控制公司产品生命周期因素情况下,上市公司债务融资期限选择与投资期限基本匹配,公司债务融资与其产品生命周期所决定的自由现金流量负相关,反映了公司寻求负债融资的资金短缺动因。

作者肖虹

机构地区厦门大学会计系

出处《经济评论》 CSSCI 北大核心 2007年第2期81-84,89,共5页 Economic Review

关键词产品生命周期融资决策行为相关性中国

分类号 F275 [经济管理—企业管理]

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