现代西方厂商投资行为理论研究发展综述——分别以完美资本市场和不完美资本市场为前提

On Development of Theoretic Research about Corporations Investment Behavior——A Prerequisite of Perfect Capital - market and Imperfect Capital - market

现代西方厂商投资行为理论虽几经修正和拓展,主流方面仍处于完美资本市场的新古典主义分析框架之内。随着企业投资行为实践以及新制度经济学和信息经济学的发展,一些学者开始考察信息不对称所导致的资本市场不完美以及制度因素、金融因素对企业投资行为的影响。本文对现代西方厂商投资行为理论研究的完美资本市场前提和不完美资本市场前提进行了比较和分析。

The neoclassical corporations investment theory regards the capital - market is perfect and ignores the financing factors have important effects on investment and macro - economy. With the development of new intuitional economics and informational economics, some economists take into account the capital - market imperfections resulted from the asymmetry of information, and analyze the effects financial factors to investment behavior. This paper reviews the development of theoretic research about corporations investment Behavior behavior, from perfect capital - market to imperfect capital - market.