资金使用成本

根据第三章的理论分析，在委托代理成本理论下，股东债权人冲突可能引起主动投资不足；在信息不对称情况下，债权人会提高债务人资金使用成本，可能导致企业因缺乏资金而被动投资不足。

Base on the theory analysis in the third chapter , according to principal-agent cost theory , the conflict between shareholder and debtor can cause insufficient investment .

这说明预期政策趋于紧缩时，企业融资将受到约束，资金使用成本上升，企业会出于预防性动机而增加现金持有量，因此企业的投资量将减少。

This means that when tight time is expected to become , the manager will increase cash holdings for precautionary motive and decrease investment for financing constraints and raise of capital cost .

由于新能源与可再生能源的和开发需要大量的资金投入，使用成本仍高于传统能源，因此，必须依靠政府的干预才可以得到推广。

Due to the huge capital investment , the exploitation and research of the new and renewable energy should depend on the intervention of the government .

其次是依据水电部队管理制度，推行资金集中管理，降低资金使用成本；

Secondly , according to management system of Hydropower Engineering Troops , to spread centralized capital management and reduce capital use cost ;

一方面沉淀于预算单位的资金的使用效率低下，另一方面当政府修建公共设施等而又无充足财力时，将大量增发国债，造成资金使用成本增加。

And , on the other hand , in the use of the funds of a unit budget of low efficiency , on the other hand , when the government public facilities and without adequate resources , will cause additional funds of Treasury bonds , use cost increase .