Research on the Impact of Local Public Debt on Enterprise Investment Structure

The paper studies the impact of local public debt on investment structure enterprises. Specifically, this selects data at prefecture-level and financial Shanghai Shenzhen A-share listed companies from 2007 to 2015 as research samples. Based tax burden theory financing constraint theory, using fixed effect model panel data, empirically tests enterprise structure. shows that expansion will increase in assets state-owned enterprises decrease assets; private increase. Therefore, should be managed according classification different