信贷软约束
信贷软约束-
但在我国法律体系不完善、制度环境不理想以及债券市场不发达的环境下，企业产权关系不清楚，企业运行面临着预算软约束和信贷软约束，缺乏有效的投资者保护机制。
But under the circumstances of imperfect legal system , unsound institutional environment and underdeveloped bond markets , it causes the unclear business ownership relationship , soft budget constraints and soft credit constraints for the enterprise running , and the lack of effective investor protection mechanism .