我国煤炭行业上市公司资本结构与经营效率和企业竞争力关系分析.pdfVIP

A b str a ct T he cap ital structure is a reflection of rights and obligation s of th e variou s enterprises and has w ide-ranging im p lication s on the corporate governance structure and thereby has a profound im pact on bu sin ess p erform ance and efficiency. W ith the developm ent of the social m arket econom y, m arket econom y system has already been estab lished and a lot of reform s have been operated. T he enterprises in the m arket have becom e th e m ainstay of the m ark et w ith independent m an agem ent and decision-m aking . U nder th is env ironm ent, com pan ies begin to in-depth stu dy their ow n cap ital structure issues in order to exp lore the relationship betw een the cap ital structure and bu siness perform an ce and efficiency. T here are tw o w ay s to research firm s cap ital structure. T he first one is to research on the relationsh ip betw een cap ital structure and com pan ies op erating perform ance and efficiency an d th e second one is to find out w hat factors have an im pact on the cap ital structure. T his paper tries to study on the coal indu stry to find out its ow n variables w h ich affect its operation efficiency becau se each indu stry has its ow n characteristics. S o it is a good w ay to select on e indu stry and stu dy on it. F irst of all, m ake sure that to select the listed com pan ies of the coal indu stry, have a descriptive analysis of the basic characteristics of th is indu stry and have a deep un derstand in g about the im pact of relevant variab les on the study objects. Second ly, select relevant factors to do m u ltip le regression s in order to find out w hether th ere ex ist real im pacts, m ak e a further analysis on the resu lts I get and also find out the reasonable debt ratio of the coal industry. F inally, rem ark on th e elim ination of backw ard prod