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文章选取2005年1月1日已经上市且仅发行A股的公司报表数据,考察了公允价值计量是否影响企业的投资行为,导致企业投资行为异化;公允价值变动对于面临资金约束的企业影响是否更强。结果表明企业投资与公允价值变动之间呈正相关关系,内部融资意愿和负债比率会使两者之间的相关性增强,公允价值变动对投资行为的影响在企业面临资金约束时更大。
This article chooses the company data of the listed companies that have been listed on January 1, 2005 and only issues A shares, and examines whether the fair value measurement affects the investment behavior of enterprises and leads to the alienation of corporate investment behavior. Whether the changes of fair value are more influential to the enterprises facing capital constraints Strong. The results show that there is a positive correlation between corporate investment and changes in fair value, the internal financing will and debt ratio will increase the correlation between the two, and the impact of changes in fair value on investment behavior is greater when the enterprises face financial constraints.