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文章选取2006—2014年西北民族地区上市公司的数据,对其负债结构与公司投资效率之间的关系进行分析。研究发现西北民族地区上市企业短期负债的增加对企业的非效率投资行为具有约束作用,而长期负债却会加重企业的非效率投资。
This paper selects the data of listed companies in Northwest China from 2006 to 2014 and analyzes the relationship between the debt structure and the investment efficiency of the company. The study finds that the increase of short-term liabilities of listed companies in Northwest Minority Areas has a restraining effect on the inefficient investment behavior of enterprises, while the long-term liabilities will increase the inefficient investment of enterprises.