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本文以我国上市公司面板数据及横截面数据为基础,运用线性回归分析对影响公司负债代理成本的因素进行了实证检验。结果发现,负债代理成本与债务期限结构、公司规模、财务灵活性及盈利能力的变化显著负相关;与公司未来成长性、资产期限、负债规模的变化显著正相关。
Based on the panel data and cross-sectional data of listed companies in our country, this paper empirically tests the factors that affect the company’s debt agency costs by using linear regression analysis. The result shows that the debt agency cost is significantly and negatively correlated with the debt maturity structure, company size, financial flexibility and profitability. It also has a significant positive correlation with the company’s future growth, asset term and debt scale.