摘要
针对融资约束视角下财务柔性对企业成长性的影响问题,采用实证研究的方法,以2016—2021年沪深两市A股上市公司为研究样本,分析融资约束视角下财务柔性与企业成长性的关系。研究表明:财务柔性促进企业成长性。高融资约束企业中,储备现金柔性对企业成长性的促进作用更显著;低融资约束企业中,储备负债柔性对企业成长性的促进作用更显著。研究结论为企业进一步完善柔性财务管理模式提供参考。
In response to the impact of financial flexibility on corporate growth from the perspective of financing constraints,an empirical research method is adopted to analyze the relationship between financial flexibility and corporate growth from the perspective of financing constraints,using A-share listed companies in Shanghai and Shenzhen from 2016 to 2021 as research samples.Research shows that financial flexibility promotes corporate growth.In enterprises with high financing constraints,the flexibility of reserve cash has a more significant promoting effect on the growth of the enterprise;In low financing constrained enterprises,the promotion effect of reserve debt flexibility on enterprise growth is more significant.The research conclusion provides reference for enterprises to improve their flexible financial management models.
作者
范宝学
陈飞雪
FAN Baoxue;CHEN Feixue(School of Business Administration,Liaoning Technical University,Huludao 125105,China)
出处
《辽宁工程技术大学学报（社会科学版）》
2024年第5期326-332,共7页
Journal of Liaoning Technical University(Social Science Edition)
基金
辽宁省财政科研基金项目(20D005)。
关键词
财务柔性
现金柔性
负债柔性
融资约束
企业成长性
financial flexibility
cash flexibility
debt flexibility
financing constraints
enterprise growth
