论文部分内容阅读
一、基本观点经济周期波动存在是必要的,主要体现在对经营劣质企业进行淘汰,使更多资源集中在经营效益良好的企业,以利于社会资源的优化配置。简单的说,就是如果单位资本产生的在经营良好企业效益的现金折现值与在经营劣质企业效益的现金折现值的差额大于由于淘汰劣质企业产生的资本重新配置的成本的话, 就必须将劣质企业淘汰,以利于资源的优化配置。
First, the basic point of view The existence of economic cycle fluctuations is necessary, mainly reflected in the management of inferior enterprises eliminated, so that more resources concentrated in the operating efficiency of enterprises, in order to facilitate the optimal allocation of social resources. Simply put, if the difference between the discounted cash-generating value of a well-performing firm and the cash discounted value of operating a poor firm is greater than the cost of relocating capital out of inferior firms, Out of inferior enterprises, in order to facilitate the optimal allocation of resources.