基于路径依赖的资产结构优化研究

The Path-Dependence Studies of Optimization in Assets Structure

本文采取规范理论分析和面板数据模型分析方法,分析了企业的资产结构优化路径。研究结论表明:企业资产结构的优化呈现路径依赖的特征,企业的资产结构既具有动态的特征,又依赖于公司管理层对资产的收益性和流动性的权衡,对面板数据模型的相关检验增强了研究结论的稳健性。

In this paper,two methods such as normal analysis and panel-data model analysis are used to analyze deeply the path of optimization in corporate assets structure.As it shown in study conclusions,path-dependence is the character of optimization in corporate assets structure.Enterprise assets structure not only is dynamic,but also depended on the balance of profitability and mobility made by managers of enterprise.Tests on panel-data models show the robustness of the conclusions of the studies.