AN EMPIRICAL STUDY ON THE REGIONAL CHARACTERISTICS AND FINANCIAL CONSEQUENCES DISPARITY OF ASSETS SPECIFICITY OF AGRICULTURAL ENTERPRISES
基于2003-2006年中国上市农业公司数据，实证发现农业企业资产专用性不存在财务后果，原因在于不完全财务契约冲突导致专用投资不足。
The paper empirically studies the financial consequences of assets specificity of agricultural enterprises in China based on the samples of china’s listed agricultural companies in 2003-2006. The study discovers that the financial consequences of assets specificity of china’s agricultural enterprises don’t exist. A very important cause of the results is that the sharp conflicts of incomplete financial contacts exist in china’s Agricultural enterprises, which lead to the inadequate special investment, so that the selected alternative variable reflecting the structure of asset can’t depict the assets specificity.