关键词: 企业债务 , U型关系 , 债务警戒线 , 产权结构

Abstract:

 There is a very serious debt problem including corporate debt in ChinaUsing the statistical data of Chinese industrial enterprises, this paper studies the influence of corporate debt on economic development including the effects of R&D, productivity and scale, and finds that there are significant nonlinear relationships existing in corporate debt influencing R&D investment, total factor productivity and firm size, and that the corporate debts main role is negative although it can play a positive role in some aspects.

Key words: corporate debt , Urelationship , debt warning line , property right structure