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	我国制造业上市公司资产负债率的动态调整——基于部分调整模型和动态面板数据的分析; Dynamic Adjustment of Asset-liability Ratio of Manufacturing Listed Companies in China——An Analysis based on Partial Adjustment Model and Dynamic Panel Data
	王亮
	2012
关键词	制造业 资产负债率 动态调整 系统GMM manufacturing asset-liability ratio dynamic adjustment system GMM
英文摘要	从动态角度研究了我国制造业上市公司的资产负债率调整行为,对我国285家制造业上市公司在2001~2008年样本区间内的动态面板数据模型进行了系统gMM估计。结果表明,我国制造业上市公司的资产流动性、非负债类税盾、成长性和净利润率与资产负债率显著负相关,而公司规模和资产结构与资产负债率显著正相关,宏观经济状况的变化也对我国制造业上市公司的资产负债率有显著影响;相比静态模型,动态模型具有更强的解释能力,我国制造业上市公司资产负债率向其目标最优值是调整动态的。; The paper studies on adjustment behavior of asset-liability ratio of manufacturing listed companies in China from a dynamic perspective.Based on the panel data of 285 manufacturing listed companies in China from 2001 to 2008,this paper conducts system GMM methods to estimate.Results show that asset liquidity,non-debt tax shield,growth and net profit are negatively correlated with asset-liability ratio of manufacturing listed companies in China,company size and asset structure are positively correlated with the asset-liability ratio,macroeconomic situation also has a significant impact on the asset-liability ratio;compared to static model,dynamic model has stronger explanation.Asset-liability ratio of manufacturing listed companies in China make dynamic adjustment to the optimal value.
语种	zh_CN
内容类型	期刊论文
源URL	[http://dspace.xmu.edu.cn/handle/2288/112449]
专题	经济学院－已发表论文
推荐引用方式 GB/T 7714	王亮. 我国制造业上市公司资产负债率的动态调整——基于部分调整模型和动态面板数据的分析, Dynamic Adjustment of Asset-liability Ratio of Manufacturing Listed Companies in China——An Analysis based on Partial Adjustment Model and Dynamic Panel Data[J],2012.
APA	王亮.(2012).我国制造业上市公司资产负债率的动态调整——基于部分调整模型和动态面板数据的分析..
MLA	王亮."我国制造业上市公司资产负债率的动态调整——基于部分调整模型和动态面板数据的分析".(2012).

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