杭州上市公司资本结构与企业绩效相关性分析毕业论文.docVIP

毕业论文 （20_ _届） 杭州上市公司资本结构与企业绩效相关性分析 摘 要 资本结构与企业绩效的研究，一直是国内外理论和实证研究的热点和难点问题。企业资本结构的变动反映了企业各方参与者之间权、责、利关系的变动，决定着企业绩效的高低。研究上市公司资本结构与企业绩效相关关系对于公司作出正确的举债经营决策，提高经营效率，完善资本市场融资秩序都具有深远意义。同时，对政府管理层控制上市公司质量和整个资本市场的风险，有效实现国民经济又好又快增长具有重大的现实意义。 本文围绕上市公司资本结构与企业绩效的相关性进行分析研究。首先，对资本结构和企业绩效的定义及相关理论作深入研究。然后，分析杭州上市公司资本结构以及企业绩效的现状。接着，说明样本选择和数据来源，提出假设，并以30家杭州上市公司2006—2009年四年的财务报表统计数据为样本研究杭州上市公司资本结构与企业绩效的相关性。最后，给出如何优化资本结构提高企业绩效的建议。本文得出的结论是：资产负债率与企业绩效呈负相关；流动负债比例与企业绩效呈负相关；非流动负债比例与企业绩效不存在正相关或负相关关系；流通股比例与企业绩效无明显关系；前三大股东持股比例与企业绩效呈弱正相关关系。 关键词：Abstract Capital Structure and Firm Performance Research, has been a theoretical and empirical research domestic and international hot and difficult issues.Corporate capital structure changes reflect the changes of rights,obligations and profit between enterprise participants ,which further influences a companys Performance.Studying the listed company capital structure and the enterprise performance is benefit for a company to make the right business decision and improve operational efficiency as well as the capital market financing order.At the same time,for the government management control the quality of listed companies and the entire capital market risk, effectively realized the national economy, nice and fast growth has the significant practical significance. This article focus on analysing the relationship between capital structure of listed companies and enterprises performance.At first,the definition of the capital structure and corporate performance and related theory are further researched.Then,analysis the status of the capital structure of listed companies in Hangzhou and enterprise performance.Afterwards,explain sample selection and data sources ,then Put forward hypothesis ,on the base of 4 years financial statement statistics of thity listed companies in Hangzhou ,the time from 2006 to 2009,to study the relationship between capital structure and enterprise performance .Finally，providing the suggestions of how to optimize capital structur