转型经济条件下,家族企业的融资行为既受外部融资环境的制约,又受制于自身的融资决策缺陷。内外因素的共同作用和家族企业长期以来形成的发展习性,导致了我国家族企业的融资行为具有一定的独特性,包括融资行为的主动决策无效、融资行为效率有限、企业与家族融资行为相互交错以及融资行为难以形成稳定预期。 Under the conditions of transitional economy, the financing activities of family-owned enterprises are not only constrained by the external financing environment, but also subject to their own financing decision-making flaws. The combined effect of internal and external factors and the developmental habit of family-owned enterprises have led to some unique characteristics of the family-owned financing activities in our country, including the invalid decision-making of financing behavior, limited efficiency of financing behavior, Financing behavior is difficult to form a stable expectation.