Study on effects of financing constraints on coal enterprises safety investment

doi:10.16265/j.cnki.issn1003-3033.2017.01.027

Abstract

Abstract: To contribute to realizing the coal enterprise work safety, solving the problem of inadequate safety investment, effects of financing constraints on coal enterprises investment were studied, by using the empirical research method, based on the date on coal enterprises listed companies from 2011 to 2015. The results show that there is a negative correlation between the degree of financing constraints on coal enterprises and safety investment ,that there is a negative correlation between the short-term borrowing level of coal enterprises and safety investment, that there is no direct relationship between enterprise long-term borrowing level and safety investment, that there is a positive correlation between coal corporate safety investment and internal cash flow, and that improving the enterprise financing environment contributes to enterprise safety investment.

Key words: financing constraints, short-term borrowing, long-term borrowing, internal cash flow, safety investment

CLC Number:

X915.4

ZHENG Yi, YIN Yuwen, YING Liying. Study on effects of financing constraints on coal enterprises safety investment[J]. China Safety Science Journal, 2017, 27(1): 151-156.

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