上市公司的双重体制对融资行为的影响分析

通过对我国上市公司与国外上市公司融资行为的比较,认为我国上市公司存在着强烈的股权融资偏好。本文着重分析了在向市场经济转轨过程中我国上市公司内部存在的双重企业制度,以及相应条件下的企业融资行为,并由此解释了上市公司存在股权融资偏好的原因。

The influential analysis of the double systems of the listed company on their financing behavior

Through the comparison on the financing behavior between China′s listed companies and other countries′ listed companies ,we can find our countries′ listed companies very obviously prefer the equity financing. This paper explains the preference by studying the enterprise behavior decided by the double system inside the listed companies. 