Analysis on the Financing Structure of Chinese Transnational Enterprises under the Constraints of Policy System Environment

摘要

The development of state-owned enterprises. has been promoted by the reform of economic system, especially the optimization of the policy system environment accompanied. The diversified financing pattern of the coexistence of multiple financing modes has proved that the changes of the characteristics of the transnational investment behavior of the state-owned transnational enterprises and the change of the financing environment are concomitant. According to the analysis of the financing structure of the state-owned transnational enterprises, the internal financing is limited by the performance and the scale. In recent years, with the development of the bond market, the demand and the proportion of the debt financing of the state-owned transnational enterprises have been rising. At the same time, the role of the financing platform of the stock market is obvious, that shows the state-owned transnational enterprises have a certain degree of soft financing constraints.