Open Access
Subscription or Fee Access
A Mathematical Model for Equity Financing Substitution Effects of Bio-pharmaceutical Listed Companies
Abstract
Some health events happen frequently in China's biological medicine field in recent years, which are endangering public health and safety. Is it the venality or a deeper contradiction that triggered such illegal acts of the bio-pharmaceutical enterprises in disregard of the social morality? Based on the data of 64 Bio-pharmaceutical listed companies in China, this paper analyzes the enterprise equity financing substitution effect, and finds that the financing/debt ratio has risen from 24% in 2002 to 33% in 2011, suggesting that listed biomedical companies are financing and extorting his upstream, and the extorting is likely to lead to the liquidity shortage of the upstream enterprises. Under the drive of profit mentality, the upstream enterprises are more likely to show tendency to illegal business.
Keywords
Disclaimer/Regarding indexing issue:
We have provided the online access of all issues and papers to the indexing agencies (as given on journal web site). It’s depend on indexing agencies when, how and what manner they can index or not. Hence, we like to inform that on the basis of earlier indexing, we can’t predict the today or future indexing policy of third party (i.e. indexing agencies) as they have right to discontinue any journal at any time without prior information to the journal. So, please neither sends any question nor expects any answer from us on the behalf of third party i.e. indexing agencies.Hence, we will not issue any certificate or letter for indexing issue. Our role is just to provide the online access to them. So we do properly this and one can visit indexing agencies website to get the authentic information. Also: DOI is paid service which provided by a third party. We never mentioned that we go for this for our any journal. However, journal have no objection if author go directly for this paid DOI service.