重庆理工大学学报（自然科学版）2017，Vol.31Issue(11)：223-229,7.DOI:10.3969/j.issn.1674-8425(z).2017.11.034
融资行为对企业投资效率的影响研究
Impact of Financing Activity on Investment Efficiency of Listed Companies
摘要
Abstract
Investment activity is one of the most important financial activities,which will influence both the financing activity and business activity.It is considered as the start of corporate activities.Recently,China has put the supply-side structure reform and optimized the industry structure.This policy requires the companies to improve investment efficiency.Based on the real investment result,this paper evaluates the condition of the investment efficiency and then analyzes the impact of financing activity on investment efficiency.The result shows that the investment efficiency of listed companies remains a relatively low level.Most of these companies act as under investment.On the perspective of sources of finance,bank loans mitigate the result of the investment,while business loans may improve investment efficiency,and the business debt plays a more significant role.When considering the impact of maturity structure,the result shows that short-term debt has a negative relationship with investment efficiency while long-term debt will help to increase investment efficiency.关键词
投资效率/融资行为/数据包络分析/供给侧改革Key words
investment efficiency/financial activity/DEA/supply-side structure reform分类
数理科学引用本文复制引用
刘梦楚,曲丹..融资行为对企业投资效率的影响研究[J].重庆理工大学学报（自然科学版）,2017,31(11):223-229,7.基金项目
国家自然科学基金面上项目(71471130) （71471130）
