河南省上市公司资本结构影响因素分析.doc

河南省上市公司资本结构影响因素分析 摘　要 企业的资本结构是企业理财及战略管理的重要内容，它决定了公司资本成本的高低。与其他的企业相比，上市公司拥有相对较强的融资功能和规范的现代公司制度管理模式，是企业中的典型代表。上市公司资本结构的变化，就在一定程度上代表着企业资本结构的发展方向。因而，对企业资本结构影响因素的把握，有利于企业经营者对公司资本结构做出正确决策。 资本结构是金融学的一个重要研究领域，其中MM理论被称为具有开现代金融学之先河的重要理论之一。中国的研究在这方面起步较晚，始于20世纪90年代初，且存在几大误区。一是资本结构研究主体界定不太清晰；二是研究内容的随意性研究方法的滞后性；三是研究的结论多为简单的逻辑判断。此，本试图在方面做尝试，希望有所突破。关键词： Abstract Enterprises capital structure is enterprise financial and strategic management is an important content of, it had decided the company cost of capital of high and low. Compared with other enterprises, the listed company with a strong financing function and regulating the management mode of modern company system, is a typical representative of the enterprise. The change of the capital structure of listed companies, and, to some extent, represents the development direction of the capital structure. Therefore, the enterprise capital structure effect factors of the master, to the enterprise operator about corporate capital structure the right decision to have the important meaning. Finance capital structure is one of the important research areas, including MM theory is called a modern finance is one of the important theory of its kind. China in the research of this aspect start later, began in the 1990 s, and there is a few methods. One is the main body of research capital structure definition not too clear; Second is the research content of arbitrary and research methods lag; Three is more simple logical conclusion for judgment. Therefore, this paper attempts to the listed companies of Henan capital structure analysis, in these aspects do some try, hope a breakthrough. Based on our countrys current macro economic and financial capital market situation, from the regional characteristics, national policy, industrial structure and direction, through to the capital structure of listed companies of Henan study factors, in order to optimize the listed companies of Henan capital structure, perfect governance structure of a company,