资本结构影响因素实证的研究论文.docVIP

 毕业论文独创性声明 本人郑重声明所提交的毕业论文是本人在指导教师的指导下进行的研究工作及取得的研究成果。除文中特别加以标注的地方外，论文中不包含他人已经发表的学术成果或者他人为获得高等院校学位而使用过的材料，论文中不涉及任何知识产权纠纷。否则，本人将承担一切责任。 学生签名：____________ 日 期：____________ 摘 要 本文以我国有色金属行业上市公司为研究对象，采用定性与定量的研究方法，在论述资本结构影响因素的相关研究成果和理论分析的基础上，提出有色金属行业资本结构和企业规模、成长性、盈利能力、可抵押性、非负债税盾、短期偿债能力、所得税水平、内部资源优化能力等影响因素之间的研究假设，利用2006——2010年深市和沪市有色金属行业上市公司公布的财务数据为样本，对影响我国有色金属行业上市公司资本结构的因素进行回归分析。回归分析研究结果表明：企业规模与资本结构存在显著的正相关关系；成长性、非负债税盾、所得税水平、内部资源优化能力与资本机构的相关关系不显著；盈利能力、可抵押性、短期偿债能力与资本结构呈显著负相关关系。最后，文章依据回归分析研究的结果，提出对我国有色金属行业资本结构的建议及优化。 关键词：Abstract In this paper, the author bases on the Chinas non-ferrous metal industry listed companies as the research object, and uses the qualitative and quantitative research methods, discusses the factors affecting the capital structure of the related research results and on basis of theoretical analysis. The author puts forward industry of non-ferrous metal of capital structure and Firm size, growth, profitability, mortgage, non-debt tax shield, short-term debt paying ability, income tax, internal resources optimization and other influencing factors to make the research hypothesis. The author uses the 2006 to 2010in Shanghai and Shenzhen non-ferrous metal industry listed companies announced financial data for samples. The impact of China non-ferrous metals industry listed companies capital structure factors regression analysis. Regression analysis results show that: the scale of enterprises and the capital structure have significant positive correlation; growth, non-debt tax shield, income tax, internal resource optimization ability and capital structure have no significant relationship; profitability, mortgage, short-term solvency and capital structure is negatively related to. Finally, the author bases on the results of regression analysis research, puts forward to industry of our country non-ferrous metal capital structure optimization and suggestion. Keywords: Non-ferrous metal; capital structure; influencing factors; empirical study 目 录1