会计专业本科毕业论文-创业板上市公司资本结构研究.doc

创业板上市公司的资本结构研究 摘要 2009年10月23日创业板开板仪式后，首批28家创业板公司于2009年10月30日集中在深圳证券交易所上市，从此拉开了中国创业板的序幕。创业板企业是我国国民经济的重要组成部分，针对创业板上市公司的特点和特殊性，本文选择在创业板上市的30家公司探讨其资本结构，进而为创业板上市公司在寻求合理的资本结构方面提供一些参考。本文先对国内外关于资本结构的理论和文献进行了回顾和综述，然后对影响资本结构的各项因素进行了简要分析，最后对创业板企业各项财务指标进行了统计和分析。以2010年7月前在创业板上市的30家公司公布的财务数据，采用描述性分析法，对其资本结构问题进行了分析，结果发现：我国创业板企业总体的资产负债率较低。进一步研究还表明，创业板企业资产负债率与企业规模、营运效率呈正相关关系，与其盈利能力负相关。文章研究的目的在于分析总结出创业板板上市公司存在的现实问题，并提出了几点改善我国创业板板上市改善资本结构和融资环境的建议。希望通过本文的研究，能为创业板板上市公司寻求合理的资本结构。 关键词：创业板上市公司 资本结构 资产负债率 tructure of Listed Companies on GEM Abstract October 23, 2009 after the opening ceremony of the GEM board, the first batch of 28 GEM companies in the October 30, 2009, the Shenzhen Stock Exchange, pulled from the prelude of the GEM.GEM companies is an important part of our national economy, the characteristics and specificity of the companies listed on GEM, select the 30 companies listed on GEM and its capital structure, and thus the venture Banban listed companies to seek a reasonable capitalstructure to provide some reference.The article focuses on domestic and international capital structure theory and the literature review and synthesis, and then a brief analysis of the various factors affecting capital structure, and finally the statistics and analysis of various financial indicators of GEM Enterprises. Financial data published in the 30 companies listed on GEM before July 2010, the use of descriptive analysis, capital structure analysis, found that:Of GEM companies overall asset-liability ratio is low. Further study also showed that the the GEM enterprise debt ratio and firm size, operating efficiency, a positive correlation between their profitability is negatively correlated. This paper studies the purpose of analysis and empirical analysis summed up the the entrepreneurship plate board listed companys real problem, some improvement of Venture Banban listed to improve the capital structure and financing environment, the proposal. I hope through this study, for venture Banban list