有限责任效应认为，高负债水平预示着企业将要实施强硬的市场竞争行为，债务作为承诺装置能够发挥战略作用。

Limited liability effect thinks that companies of the high debt level will be implemented tough market competition; the debt can play a strategic effect as commitment device.

youdao

有限责任效应认为，高负债水平预示着企业将要实施强硬的市场竞争行为，债务作为承诺装置能够发挥战略作用。

Limited liability effect thinks that companies of the high debt level will be implemented tough market competition; the debt can play a strategic effect as commitment device.

youdao