Capital Market Imperfections, Uncertainty, and Corporate Investment;

Hence how to promote the mutual development of the incomplete capital market and the stripping assets reconfiguration h.

But at present the annexation activity of the state-owned enterprise of our country is carrying on in a incomplete capital market,it makes the government becomes the internal factor in the annexation of enterprise, depends on its special administrative resources,dominates the behaviour of an.

This paper presumed that the market is an imperfect market,and then by considering the factors of the difference of capital cost and information,it discussed the impact of assets price of heterogeneity investors under uncertain conditions.