The article embarks from the output competition and the price competition, studied the function of debt financing in the Cournot output competition and the Bertrand price competition.

• 本文从产品市场竞争的产量竞争和价格竞争出发,研究了债务融资在Cournot产量竞争和Bertrand价格竞争中的作用,通过构建模型发现:在产量竞争中,债务能使企业更具攻击性;