【精选】机械_设备_仪表行业上市公司资本结构实证研究.pdfVIP

20 11 1 ( ) N o. 1, 2011 116 JOURNA L O F HAR BIN UN IVER SITY OF COMM ERCE Seria N o. 116 [ ] , , ( , 710 129) [ ] 从影响资本结构的因素着手, 借助 SPSS软件, 运用主成分分析方法与逐步多元线性 归分析 法, 对我国机械设备仪表行业上市公司的资本结构进行实证研究结果表明: 公司规模成长能力所得税等 因素对资本结构有负效应; 公司的盈利能力营运能力非债务税盾收益现金流短期偿债能力等影响因素对 资本结构有正效应; 而资产结构对资本结构没有显著效应 [] 资本结构; 主成分分析; 多元线性 归分析; 实证分析 [ ] F235. 5 [] A [] 1671- 7 112( 2011) 01- 0072- 09 Th e Em p irical A nalyzing on Ch in ese M anufacturing Sector L isted C om pan ies SU H ong, ZHUANG Y u , JIM e i- ru ( Schoo of M anagem ent, N orthw este rn Po ytechn ica U n iversity, X i an 7 10129, Ch ina) Ab stract: T h is artic e starts from the in f uent ia factors of the capita structu re and an a y sis em pirica y the capita structu re forL isted Corporations of Ch inese manu factu ring sector, by adop ting Principa Com ponen t A na y s is and stepw ise regression ana y sis and us ing the SPSS sofwt are. T he Em p iri- ca resu t revea s that: s ize factors, grow th factors and corporate incom e tax factors have th e sign if icant negative effect. W h i e other factors inc ud ing profit factors, non - debt tax sh ie d factors, revenue cash f ow factors, short- term iqu id ity factors, operating capacity factors etc have the s ign ifi- can t positive effect. assets structure do not have the ob viou s in f uen ce on cap ita structu re. K ey word s: cap ita stru cture; p rincipa com ponen t an a y sis; m u t ip e in ear regression ana ys is; em pirica ana y sis G rossm an H art ( 1982) [ 4] , , , , , , , , ( 1996) [ 5 ] , , , 1998 , T itm an W e