政治关联、政府干预与权益资本成本——基于股权性质与管制企业角度的经验分析.doc

- --- 杭州电子科技大学硕士学位论文 non-state-owned enterprises in the local state-owned enterprises and central state-owned enterprises have better performance, which indicating that non-state-owned enterprises can establish the political association to reduce the cost of equity capital.(2) Companies which high subject to government regulation than that low-subject have a higher cost of equity capital, which indicates that the governments predatory hand at work and the government intervention increased the unpredictability in business behavior and environment, thus leads to increase the operational risks.(