股权集中下投资-现金流问题探讨

综述了投资一现金流和股权结构的问题的理论成果、争论及用于研究的投资和股权集中的模型，对管理机会主义假说与信息不对称理论分别对融资约束的解释、特别阶层的股东对投资与内部现金流的关系影响这样一些问题进行阐述，并归纳了研究以上假设的实证模型．

Research of Investment and Cash Flow Constrain Under Ownership Concentration

This article summarizes the theory achievements,arguments,the investment and ownership concentration model which studied in investment-cash flow and the stockholder's rights structure questions.The financing restraint is explained.The special social stratum shareholder is elaborated which influences relation between investment and internal cash flow by the financing restraint existing in the enterprise,the management opportunism hypothesis and the information assymetrical theory separately.Finally the authors induce and study the real diagnosis model of the supposition(above).The model is important for the empirical study of ownership structure influencing to corporate investment.