非生产性支出

河北省财政支农生产性支出与非生产性支出的对比分析

The Comparative Analysis of the Productive Expenditure and the Nonproductive Expenditure in the Financial Expenditure for Agriculture in Hebei Province

中央财政生产性支出对经济增长的推动力量远高于地方财政生产性支出，（3）国家财政的非生产性支出规模过大，不利于经济增长。

Second , the impelling action of central government fiscal productive expenditure is larger than local productive expenditure . Third , the scale of nonproductive fiscal expenditure is too large , which is no good to economic growth .

进一步的，在借鉴已有研究的基础上，本文试图通过非生产性支出这一框架来解释政治关联对公司业绩的损害途径。

And basing on previous research , we use the non productive expenditure to explain the influence path .

进一步的，本文引入非生产性支出的框架来解释高管政治关联损害公司业绩的可能途径。

Furthermore , we bring in framework of non-productive expenditure to explain possible influence path of political connection .

虽然公共财政支出因为包含了非生产性支出或转移支付，因此经济效率较低。

Local fiscal expenditure always contains some non-productive expenditure and transfer payment , so its economic efficiency is relatively lower .

发行公司债券筹集的资金，必须用于审批机关批准的用途，不得用于弥补亏损和非生产性支出。

The proceeds from issuance of company bonds shall be used for the purpose approved by the approval authority , and may not be used to cover losses and non-operating expenditures .

因此，从总的结果来看，对社会是不利的，至少是有一万镑的差异，即丙的那笔非生产性支出额。

There is , therefore , on the general result , a difference to the disadvantage of the community , of at least ten thousand pounds , being the amount of C 's unproductive expenditure .

哈佛大学（HarvardUniversity）教授迈克尔礠森（MichaelJensen）后来批评企业集团存在“数十亿非生产性的资本支出和组织效率低下现象”，赞扬了企业朝着“更小、更集中、更高效”的方向演变的趋势。

Michael Jensen , a Harvard professor , later criticised the " billions in unproductive capital expenditures and organisational inefficiencies " at conglomerates , praising the trend toward " smaller , more focused , more efficient " enterprises .

研究结果表明：①生产性的财政支出项目能够促进经济增长，而非生产性的财政支出项对经济增长影响不显著。

The results show that productive fiscal expenditure would promote economic growth , while unproductive fiscal spending had no significant impact on economic growth .