内部资本市场与外部资本市场都是企业集团资金筹集和投放的市场,许多企业集团在选择主要资金管理平台时,由于对两个市场的优劣势认识不清,往往容易出现筹资和投资决策失误。而已有的文献也并未严格比较两个资本市场的功能差异,容易使人对 Both internal capital markets and external capital markets are markets for fund raising and distribution by enterprise groups. Many enterprise groups often fail to make fund-raising and investment decisions when they choose the main fund management platform for lack of understanding of the strengths and weaknesses of the two markets. The existing literature does not strictly compare the functional differences between the two capital markets, making it easy for people