The empirical result shows the exist of equity financing preference of listed companies , which is far from the " pecking order theory " of financing in mature capital market 本文通过用大量的数据对我国上市公司资本结构进行了实证分析，证实了我国上市公司股权融资偏好显然存在。
But analysts say their initial research following the subprime shock suggests the credit turmoil has intensified these trends in 2007 in terms of the global pecking order 然而，分析人士表示，麦肯锡在次贷危机后进行的最初研究表明，从全球排名来看，信贷危机在2007年强化了这些趋势。
This paper is base on contract theory and modern financial theory , use normative study and field study method to analyze the pecking order of state - owned listed company in china 本文以契约理论和现代财务理论为基础，运用规范研究与实地研究的方法对我国国有上市公司的融资顺序进行研究。
The bianconeri ' s player is currently not finding too much space in the old lady ' s squad , with iaquinta , del piero and trezeguet all ahead of him in the pecking order 这名比安科内里的球员现在在老妇人的阵中并没有找到太多的空间，在教练的名单中，包括亚昆塔、皮耶罗和特雷泽盖都比他排在更前面。
Washington - boys at the top of the pecking order ? either by birth or because their older siblings died ? score higher on iq tests than their younger brothers 华盛顿在长幼次序中位于首位的男孩无论是因为出生的早，还是因为在其前面出生的同胞死掉了在iq测试中比他的弟弟获得了更高的分数。
The results suggest that the capital structures of our listed corporations are different comply from those of developed countries , which imply the relevance of abnormal pecking order 结果表明，我国上市公司的资本结构与发达国家之间存在很大的差别，而与大多数发展中国家相一致，表现出强烈的异常融资优序。
One is that we investigate a sample of 87 listed companies between 2000 and 2002 using a binary logit model and a multinomial logit model to determine if they follow the pecking order 首先，运用logit回归模型对样本公司2000年? 2002年的融资行为是否符合优序融资理论进行实证检验。实证结果表明，我国上市公司的融资选择与优序融资理论不符。
Having enjoyed his most productive spell as a united player over the past four months , he is hoping to secure his place in the france squad for the world cup finals , having overtaken djibril ciss , the liverpool forward , in the pecking order 过去的4个月是他在曼联最高产的一段时间，他希望能击败利物浦前锋西塞保住自己的法国队的位置来征战世界杯。
In the end of paper we point out must reform the going contract arrangement confront by the state - owned listed company , impulse the state - owned listed company choose reasonable pecking order , and bringing out some relative suggestion 文章最后指出需要通过改革和完善国有上市公司所面对的一系列内外部契约安排，来促使国有上市公司选择合理的融资顺序，并提出了相关的政策建议。
So the corporation in china has the special character , which may lead to the difference . opposite to the pecking order theory in mature financial market , our listed corporations have the preference of the stock financing 所以我国上市公司融资行为既有上市公司融资行为的一般特征,又有现实环境所造就的特殊行为特征,导致我国上市公司融资行为与西方融资理论可能存在相悖之处。
