defensive asset 中文意思是什麼
defensive asset
解釋
防禦性資產-
Utilities and other late cycle, defensive asset classes also did well
公用事業板塊和其他防禦性資產的表現也不俗。 -
Vertical integration occurs when transaction cost is large, asset specificity is high, property rights structure is unreasonable, no rigorous regulation exists, defensive behavior is needed facing demand fluctuation, technical shock is small, firm network is incomplete, information cost is high, contract incompletion extent is low
縱向一體化發生的條件為交易成本過高、資產專用性過高、產權分配不合理、沒有嚴厲的管制、需求波動產生的防禦性需要、技術沖擊比較小使得企業不需要分散風險、企業網路不完善、信息成本過高、合同的不完全性較低、決策中更多地考慮風險等。
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