作　　者： ;

机构地区： 西南财经大学

出　　处： 《数量经济技术经济研究》 2006年第1期50-58,共9页

摘　　要： 本文试图运用资本的市场价值理论来研究厂商的投资行为。通过分析认为,经济增长决定行业产品的需求量,行业资本的利润主要依赖于需求量的增加。利率和行业资本的利润决定资本的市场价值,资本的市场价值决定厂商的资本供给,也就是厂商的投资数量。对经济增长和行业产品需求量的过度预期,会导致非理性的投资,产生沉淀成本和调整成本。预期利率升高,使投资前移,同样会产生投资规模过大的趋势。提高投资项目资本金的比例,能遏制投资规模过大。作为微观经济个体的厂商,在作投资决策时,应将选择价值纳入考虑范围,进行理性投资,减少沉淀成本和调整成本。 This paper tries to apply the theory of market value of capital to analyze factory＇s investment behavior. Through analysis, we think that： economic growth determines the demand of industry product, the profit of industry capital mostly depends on the demand increase, interest rate and the profit of industry capital determines the market value of capital, the market value of capital determine determines the factory＇s capital supply, i.e. the amount of factory＇s investment. The excess expectation on economy results in irrational investment, and produces precipitating cost and adjusting cost. The increment of expected rate makes investment move up, also induces large investment size. To improve the proportion of capital owned by self can keep the investment size within limits. As an economic individual , when factory makes an investment decision, it should consider optional value, and invest rationally, so as to reduce sinking cost and adjusting cost.

关 键 词： 调整成本 选择价值 理性投资

领　　域： [经济管理]