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在日益激烈的社会环境中,一些企业为了扩大生产规模,需要大量的资金满足企业的生产经营。但仅仅依靠企业的内部资金不足以满足其需求量,这就要求企业投资者依靠外部融资来确保资金的充足。但过分融资会给企业带来过大的财务负担,严重时会资不抵债,最终导致企业破产清算。而且,不同类型的企业融资约束的程度不尽相同,这与企业的经营状况、规模大小等因素密切相关。本文将从融资约束的概念及成因,主要衡量指标,研究现状等角度出发对企业的融资约束相关问题进行探讨。
In an increasingly fierce social environment, some enterprises need large amounts of funds to meet their production and operation in order to expand their production scale. However, relying solely on the internal funds of the enterprises is insufficient to meet their demand, which requires that corporate investors rely on external financing to ensure sufficient funds. However, over-financing will bring too much financial burden on enterprises, which will lead to insolvency in the event of serious problems and will ultimately lead to bankruptcy and liquidation of enterprises. Moreover, the degree of different types of corporate financing constraints vary, which is closely related to the business conditions, size and other factors. This article will discuss the issues related to the financing constraints of enterprises from the perspectives of the concept and causes of financing constraints, the main measurement indicators, the current research status and so on.