上市军工企业债务性融资便利性的实证研究

随着我国军工企业在近年大量上市,上市后的军工企业在融资问题上面临着许多问题,基于2006-2008年我国军工类上市公司的数据,对上市军工企业利用与政府和银行良好的关系与其融资便利性的关系进行了实证检验,检验结果发现军工企业相对于其他的上市企业在贷款方面有着一定的便利性。表明目前我国的上市军工企业还是利用传统的与政府和银行的良好关系来进行融资,企业的融资渠道单一,财务风险较大,需要进一步扩展军工企业的资金来源,优化军工企业的融资渠道和方式。

With the large number listing of China＇s minitary industrial enterprises,these enterprises have faced some problems in financing. Based on the data of the listed minitary industrial enterprises from 2006 to 2008,and have an empirical analysis on the relationships between the minitary enterprises with the government and banks and the finance convenience. The results show that the listed minitary industrial enterprises have more convinience in loans than other listed enterprises. These conclutions show that the minitary industrial enterprises finance by using traditional good relations with the government and banks at present. The financing way is single. And the enterprise have more financial risks. The funding source should be expanded and the channels and methods of financing should be optimized.