摘要
本文以我国上市公司为研究对象,对我国上市公司的债权融资与公司治理的相关性进行了详细的实证分析,得出我国上市公司总负债率和其绩效之间呈现显著负相关关系的结论。剖析了我国上市公司债权融资治理失效的原因,并在此基础上提出了以下改进建议:强化债权融资的“硬约束”;大力发展债券市场;适当加大高级管理者的股权比率;加强市场中介机构的培育,建立完善的企业信用评价体系。
Targeted at listed companies in our country, this paper gives an in - depth empirical analysis to the relevance between debt financing and corporate governance of these companies, concluding that there exists a negative relationship between the total liability of China＇ s listed companies and their performance, The paperexpounds the reasons for the failure of the governance through debt - financing and on this basis provides suggestions for improvement as follows, enhancing the ＂ bard constraints＂ of the debt finsacing, vigorously developing the securities market appropristely expanding the equity ratio of the senior executives, strengthening the intermediate organizations, establishing a perfect corporate credit rating system
出处
《特区经济》
北大核心
2006年第11期27-29,共3页
Special Zone Economy
关键词
上市公司
债券融资
公司治理
listed company
debt financing
corporate governance
