东北上市公司资本结构与企业价值实证分析-企业管理专业论文.docxVIP

Abstract With the continuous deepening of reform and opening up, constant expansion of business scale of Chinas companies and improvement of operating level, more and more companies go financing by stock issue. When the company makes financial decisions, it is very important to pay attention to the scale of funding, as well as the funding sources and structure of financing options in order to maximize the firm value. It is undoubtedly of great significance to discuss how the improving the capital structure affects the firm value from the basic elements of business finance. The thesis selects 82 listed companies in the northeastern part, combines univariate and multivariate analysis method after a detailed financial analysis, and analyses the characteristics of capital structure of northeast China’s listed companies. The thesis selects indicators of capital structure based on using P/E model as the assessment method of firm value, and then analyses the relationship between capital structure and firm value in different years and industries by establishing regression models. The results show that relationship performs differently in different industries. Finally, discusses the results of empirical analysis and puts forward the strategies to optimize the capital structure of northeast China’s listed companies in order to maximize the firm value. Key Words：capital structure；firm value；industry factors ；listed companies 目 录 摘 要 ........................................................................................................... I Abstract ............................................................................................................ II 1 绪论 ............................................................................................................ 1 1.1 问题的提出 ........................................................................................1 1.2 国内外相关文献综述 .........................................................................1 1.2.1 国外研究现状 ....