The Contradiction between Macro-liquidity and Internal Liquidity of the Corporates and Their Corresponding Early-warning System

DOI

10.2991/seiem-17.2018.37How to use a DOI?

Keywords

macro liquidity constraint, micro liquidity constraint, debt financing timing choice

Abstract

Recent years, there have always existing a deviation of micro- liquidity from macro-liquidity in our country. Central bank insists on a prudent monetary policy with some flexibility. M2 continues to rise, meaning there is sufficient liquidity at the macro level. On the contrary, at the micro level, a considerable number of corporates still withstand the tight internal liquidity environment. Directed to this contradiction, in view of this contradiction, this article has put forward some suggestions from the macroscopic level and the enterprise angle and paid more attention to the viewpoint of the enterprise at the same time. To begin with, companies can use inversion ideas to establish a financing risks early warning system based on liquidity constraints. Then, based on the previous warning system, this paper constructs a liquidity constraints and the enterprise debt financing timing selection model, which provides a reference for enterprises to choose the optimal timing of debt financing in the current situation.

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  - Linan Wang
AU  - Xin Jin
AU  - Jingrong Li
PY  - 2017/12
DA  - 2017/12
TI  - The Contradiction between Macro-liquidity and Internal Liquidity of the Corporates and Their Corresponding Early-warning System
BT  - Proceedings of the 2017 2nd International Seminar on Education Innovation and Economic Management (SEIEM 2017)
PB  - Atlantis Press
SP  - 151
EP  - 153
SN  - 2352-5398
UR  - https://doi.org/10.2991/seiem-17.2018.37
DO  - 10.2991/seiem-17.2018.37
ID  - Wang2017/12
ER  -