The Empirical Research of the Effect of Financing Constraints on Investment Efficiency Based on Chinese Listed Companies

DOI

10.2991/iccese-18.2018.202How to use a DOI?

Keywords

financing constraints; investment efficiency

Abstract

Based on the data of the Chinese Listed Companies in 2012-2016 years as the research sample, this paper carries out an empirical research on the relationship between the financing constraints and investment efficiency of Chinese listed companies from the perspective of different regions, industries and property rights. The result shows the fact that the lower the financing constraints are the higher the efficiency of investment is, and to enhance the enterprise value, the investment efficiency of non-state-owned enterprises is easily to be improved than that of the state-owned enterprises through easing financing constraints; similarly, the enterprises in the Midwest of China is more easily than eastern enterprises, the information technology service industry is more easily than other.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Shuanghai Li
AU  - Xinwen Hu
PY  - 2018/03
DA  - 2018/03
TI  - The Empirical Research of the Effect of Financing Constraints on Investment Efficiency Based on Chinese Listed Companies
BT  - Proceedings of the 2nd International Conference on Culture, Education and Economic Development of Modern Society (ICCESE 2018)
PB  - Atlantis Press
SP  - 886
EP  - 889
SN  - 2352-5398
UR  - https://doi.org/10.2991/iccese-18.2018.202
DO  - 10.2991/iccese-18.2018.202
ID  - Li2018/03
ER  -