资本结构对产品市场竞争的影响:一个理论综述

被引:2
作者
潘岳奇
贾生华
机构
[1] 浙江大学管理学院
关键词
资本结构; 产品市场; 财务契约; 模型;
D O I
10.13269/j.cnki.ier.2011.01.011
中图分类号
F275 [企业财务管理];
学科分类号
1202 ; 120202 ;
摘要
企业资本结构是产品市场博弈的一个重要决定因素。本文基于有限责任效应模型、深袋效应模型、两阶段转换成本模型和竞争性产业均衡模型综述了资本结构影响产品市场竞争的理论。对于四类模型,分别介绍了其核心观点、基本逻辑、相互关系、内部结构和关键文献。最后指出,理论发展仍处于早期,理论的纵深发展要求对现有理论进行进一步检验、整合和修正。
引用
收藏
页码:86 / 94
页数:9
相关论文
共 17 条
[1]  
Optimal debt contracts and product market competition with exit and entry[J] . Naveen Khanna,Mark Schroder.Journal of Economic Theory . 2009 (1)
[2]   Competitive equilibrium with debt [J].
Zhdanov, Alexei .
JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 2007, 42 (03) :709-734
[3]   Predation due to adverse selection in financial markets [J].
Fernández-Ruiz, J .
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, 2004, 22 (05) :715-733
[4]  
Anticompetitive Financial Contracting: The Design of Financial Claims[J] . GiacintaCestone,LucyWhite.The Journal of Finance . 2003 (5)
[5]  
How Do Capital Markets Influence Product Market Competition?[J] . Michael H. Riordan.Review of Industrial Organization . 2003 (3)
[6]  
Product market competition and optimal debt contracts: The limited liability effect revisited[J] . Antoine Faure-Grimaud.European Economic Review . 2000 (10)
[7]   Innovation and investment under financial constraints and product market competition [J].
Maurer, B .
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, 1999, 17 (04) :455-476
[8]  
Policy Burdens, Accountability, and the Soft Budget Constraint[J] . Justin Yifu Lin,Guofu Tan.The American Economic Review . 1999 (2)
[9]  
Competition, Policy Burdens, and State-Owned Enterprise Reform[J] . Justin Yifu Lin,Fang Cai,Zhou Li.The American Economic Review . 1998 (2)
[10]  
Capital-Market Imperfections and Countercyclical Markups: Theory and Evidence[J] . Judith A. Chevalier,David S. Scharfstein.The American Economic Review . 1996 (4)