国有企业负债与预算软约束

The State-owned Enterprises' Debt and Budget Soft Constraints

本文分析了作为所有者的政府、最大债权人的国有银行对国有企业预算软约束的状况。试图从这个角度 ,为国有企业高负债型的资本结构提供一个解释。

This article analyzes the budget constraint condition of the government,the banks to the state-owned enterprises. From this angle, the article provides an explanation for high level debt of the state-owned enterprises.