원문정보
보안공학연구지원센터(IJUNESST)
International Journal of u- and e- Service, Science and Technology
Vol.9 No.8
2016.08
pp.189-200
피인용수 : 0건 (자료제공 : 네이버학술정보)
초록
영어
It is shown that output under financing constraints and principal-agent can be modeled as a one-side deviation from a frictionless output level. The effects of financing constraints and principal-agent can be identified and quantified by imposing a distribution assumption on the effects. Panel data on Chinese listed firms between 2008 and 2013 are used in the estimation. It is found that: (1) the output efficiency of Chinese listed firms is significantly affected by financing constraints and principal-agent; (2) the severity of financing constraints and principal-agent of firms in different regions varies; (3) firms’ output efficiency in east China varies greatly, and the mean efficiency is the lowest of the three regions.
목차
Abstract
1. Introduction
2. Literature Review
3. Model and Data
3.1. Model Specification and Estimation Method
3.2. Sample Selection and Data Sources
4. Empirical Results and Analysis
4.1. Empirical Results of All Firms
4.2. Empirical Results of Firms in Different Regions
4.3. Analysis of Output Efficiency
5. Conclusion
Acknowledgments
References
1. Introduction
2. Literature Review
3. Model and Data
3.1. Model Specification and Estimation Method
3.2. Sample Selection and Data Sources
4. Empirical Results and Analysis
4.1. Empirical Results of All Firms
4.2. Empirical Results of Firms in Different Regions
4.3. Analysis of Output Efficiency
5. Conclusion
Acknowledgments
References
키워드
저자정보
참고문헌
자료제공 : 네이버학술정보