內(nèi)部資本市場(chǎng)關(guān)系型融資研究.pdf

1、長(zhǎng)沙理工大學(xué)碩士學(xué)位論文內(nèi)部資本市場(chǎng)關(guān)系型融資研究姓名：高學(xué)明申請(qǐng)學(xué)位級(jí)別：碩士專業(yè)：會(huì)計(jì)學(xué)指導(dǎo)教師：馮麗霞20090401ABSTRACTIntemalcapitalmarket(ICM)isawidespreadandimportantmeChanlsmtorallocationofresources，whohasafIarreachinginlpactontheoperatingactlVltlesot鉍terprises，eve

2、nthewholeeconomyTherefore，taking孤indepthresearcnonfinancinginintemalcapitalmarketsisVerynecessar)，andValuableBylinkingwithintemalcapitalmarketsandrelationshipfinancingtogetherthlsthesistakesadeepresearchonthephenomenonof

3、relationshipfinancinglntheintemalcapitalmarketinente印rise鏟oupsFirstly’basedonsystematicallysummmgupandcollatingrelevantliteratures，themesissummarizesandanalysesthecharacteristics，advantagesandnatureofthefinancinginICM舶mt

4、heperspectlVeotasⅥnmetricinfomationandtransactioncosttheoryThisthesish01dsthatthefinancinginICMlinksnaturallywithrelationshipfinancing，whoisacloseandstableintragroupfinancingactivitycharacterizedbytheproductionofpropneta

5、ryinfomationandbasedonlongteminterestsofbothinVestorsandfinanclersAnd1thascoreelementsthatrelationshipfinancingshouldhaVe，isaspeclaltypeotrelationshipfinancingSecondly，fromtheperspectiVeofsocialcapitaltheory’thethesisdef

6、inesthectrelationship’’inrelationshipfinancinginICMandarguesthatltlsaresources，aggregateestablishedoraccumulatedinlongte徹productlonandoperatlonactivities，whocanbringaboutrealorpotentialinterestsfortheenterpnse1tseltAfter

7、wardstraitsof“relationship’’arediscussedThirdly，thetheslsanalysesdialecticallVcostsandrevenuesoffinancingrelationshipinICM，andpointsoutthattherelationshipfinancingintheICMproducesrentalandcontractualreVenues，but1tbringco

8、stsofsoftbudgetconstraintandlocking—in，thatitsreVenuesandcostscanbeseenasanfunctionoftraitsof‘‘relationship”Themodeoffinancingisthebaslsotcorporategovernance，andhasacloselo百ccontactwithgoVernancemechanlsmsFinallV，thethes