摘要
利用公司披露的数据,发现了样本公司套期保值决策与财务困境成本和流动性需求的高度相关性,同时也发现了与理论预期相反的证据,对于我国有色金属上市公司来说,协调投融资的工具并不是套期保值,而是其它;管理者持股激励机制有可能并未起到应有的作用。
Using the data released by the company, the high correlation is Iound among the sample company hedging decision, financial distress costs and liquidity demand, which is in con- trast to the theory expected. The results suggest that, to the listed companies in the industry of the non--ferrous metal in China, the coordination tools between investment and financing are not hedging but the other factors, Managers shareholding incentive mechanism may not be effective.
出处
《财经理论与实践》
CSSCI
北大核心
2013年第1期43-46,共4页
The Theory and Practice of Finance and Economics
基金
辽宁省社科规划基金项目(L11DGL021)
作者简介
戴致光（1975-），男，辽宁大连人，东北财经大学会计学院博士生，研究方向：公司理财与风险管理。
