我国上市公司业绩与公司资本结构关系研究.pdfVIP

摘 要 近年来，对上市公司的研究越来越重视资本结构与公司业绩的关系，国内外许 多学者对二者之间关系进行了多方面的探索，从国内外文献的研究结果看，对上市 公司业绩与公司资本结构关系的研究都得出了正相关和负相关两种不同的结论，但 对于资本结构与公司业绩之间呈现正相关或者负相关的解释，国内学者与西方学者 却存在着较大的差异。国外的研究都是基于发达国家先进的市场经济体制背景，而 国内的研究大多建立在国内经济体制转型过程中，不太完全的市场经济体制的背景 下，由于经济环境有很大的差异，因此研究的结果也就不相同。本文在介绍了解上 市公司业绩与资本结构的相关知识后，总结国内外的已有研究成果，从公司治理制 度背景等方面来解释国内外上市公司业绩与资本结构关系的差异，因此，要想提高 我国上市公司的业绩必须从实际出发，从国情出发，不能盲目参照国外的做法。本 文在最后对优化上市公司的资本结构、提高公司的业绩提出了相应的对策建议。 关键词：上市公司，公司业绩，资本结构 I Abstract In recent years, the research of listed company attach importance to the relationship of the capital structure and firm performance more and more,many scholars of domestic and international explored to the relationship from the many-sides, from the research result of domestic and international, they all reached the positive correlation and negative correlation on the relationship of the capital structure and firm performance. But the explanation of the positive correlation or negative correlation are appeared as for capital structure and company achievement, the scholar of domestic and international exist bigger difference.All the research of abroad are according to flourishing nation forerunner of market economy system background, but local of research established in the domestic the economy the system the transformation the process mostly, the market economy system are not completement,because the economy environment have very large difference,the research of result are also not homology. This paper introduced to the correlation knowledge of company performance and capital structure and summaried the the research achievements of domestic and international,compared the difference of domestic and international on the relationship from