摘要现代公司金融理论假设，在完美的资本市场上，企业能够在外部资本市场上按照与内部资金相同的资本成本为所有净现值为正的投资项目筹集充足的资金。但由于现实经济中广泛存在着信息与激励等不完善因素，企业很可能陷入一种无法按照合理资本成本筹集投资所需资金的状态，Fazzari et al．（1988）将其定义为“融资约束”。
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