(我国房地产行业上市公司股权结构对其股权融资偏好程度的影响格式调好的1.docxVIP

摘 要房地产行业在我国国民经济中起到了越来越重要的作用。其资本结构问题是一个非常具有研究意义的课题。优化上市公司的资本结构直接关系到提升上市公司投资价值、增强投资者信心以及促进证券市场的健康发展，我国房地产业的资本结构具有资产负债率高，融资渠道单一等特点。融资偏好是指融资方式的先后排序和选择，我国房地产上市公司的股权融资偏好表现为强烈的股权融资偏好。股权融资偏好倾向存在一定的危害性,会导致我国房地产公司综合竞争力下降，对房地产上市公司融资偏好影响因素进行分析显得非常重要。本文采用净资产收益率作为衡量公司的股权融资偏好的指标，分析股权构成与股权融资偏好的关系。然后运用spss软件进行多元线性回归分析，最后得出了股权结构与公司股权融资偏好的关系。 关键词：房地产上市公司；融资偏好；实证分析；多元线性回归AbstractThe real estate industry has played an increasingly important role in our national economy. Its capital structure is the subject of a very significance. Optimization of the capital structure of listed companies is directly related to the investment value of listed companies to enhance, strengthen investor confidence and promote the healthy development of the securities market.The capital structure of Chinas real estate industry has a high rate of assets and liabilities, financing channels for a single and so on. Financing Preference means of financing has sorting and selection of real estate financing preference of listed companies showed a strong preference for equity financing. There is a certain tendency to Pecking dangers, will lead Chinas real estate companys comprehensive competitive, real estate financing preference influencing factors were analyzed is very important. In this paper ROE as a measure of the companys equity financing preference indicators, analyze the relationship between shareholding structure and equity financing preference. Then use spss software multiple linear regression analysis, the conclusion that the relationship between ownership structure and corporate equity financing preference.?Keywords: real estate companies; financing preference; empirical analysis; multiple linear regression目录第1章 绪论5第1节 研究背景与意义51.1研究背景51.2研究意义6第2节 国内外研究现状6第3节 研究内容8第2章 房地产上市公司股权结构对股权融资偏好程度影响的现状分析8第1节 房地产上市公司股权结构的现状分析8第2节 房地产上市公司股权结构存在的问题9第3节 对我国上市公司股权融资偏好的统计性描述93.1保持较低的资产负债率93.2 股票筹资额远高于债券筹资额103.3上市公司偏好配股和增发方式10第3章 房地产上市公司股权结构对股权融资偏好程度影响的实证分析10第1节 样本设计101.1研究假设11第2节 变量选择122.1解释变量122.2被解释变量132.3控制变量13第3节 模型设