资本结构与企业竞争战略研究综述

A Summary of Studies on Capital Structure and Competitive Strategy of Enterprises

近年来,以产业组织理论为基础的资本结构学说逐渐形成和发展,资本结构与企业竞争战略之间的关系开始得到逐步的认识。本文通过综述学术界关于产出与有限责任效应、掠夺行为与投资效应的研究以揭示资本结构与企业竞争战略的双向影响关系。

With the formation and development of capital structure theories based on the Industry Organization Theory, the relationship between capital structure and competitive strategy is gradually recognized. Present study in the fields of output and the limited liability effect, predatory behavior and investment effect cast light on the two-direction effect between capital structure and competitive strategy.