小顥 發問時間: 社會與文化語言 · 1 0 年前

英文翻譯(有關財金論文) 不要軟體翻15點!!!!急~~~~

We identify a specific channel (debt covenants) and the corresponding mech-anism (transfer of control rights) through which financing frictions impact corporate investment. Using a regression discontinuity design, we show that capital investment declines sharply following a financial covenant violation,when creditors use the threat of accelerating the loan to intervene in manage-ment. Further, the reduction in investment is concentrated in situations in which agency and information problems are relatively more severe, highlight-ing how the state-contingent allocation of control rights can help mitigate investment distortions arising from financing frictions.

2 個解答

評分
  • 1 0 年前
    最佳解答

    We identify a specific channel (debt covenants) and the corresponding mechanism (transfer of control rights) through which financing frictions impact corporate investment.

    我們辨認一種特有的管道(債務契約)和對應的機制(控制轉移權利)經由那些財務摩擦衝擊公司的投資。

    Using a regression discontinuity design, we show that capital investment declines sharply following a financial covenant violation, when creditors use the threat of accelerating the loan to intervene in management.

    使用退化間斷性設計, 當債權人使用加速貸款的威脅來干預管理時,

    我們證明資本投資隨著財務協定的衝突產生劇烈地衰退。

    Further, the reduction in investment is concentrated in situations in which agency and information problems are relatively more severe, highlighting how the state-contingent allocation of control rights can help mitigate investment distortions arising from financing frictions.

    更進一步地, 在投資的降低是集中在媒介和訊息問題是相對較嚴重的狀況, 強調

    控制權隨機分配的狀態如何經由財政干預所引起的減輕投資扭曲可能有幫助

  • 1 0 年前

    請問mature male這篇摘要大概在說明什麼阿??!

還有問題?馬上發問,尋求解答。