安徽省上市公司融资行为与企业资本结构优化研究企业管理专业论文.docxVIP

安徽省上市公司融资行为与资本结构优化研究 安徽省上市公司融资行为与资本结构优化研究 摘 要 随着我国经济的不断发展，企业资本结构逐渐为人们所关注。然而， 对于区域资本结构优化问题，目前尚无明确的探讨。我国区域上市公司的 资本结构到底处于何种状态?是否合理?影响区域上市公司资本结构的因 素有哪些?，本文以安徽省上市公司为例，对区域上市公司融资行为、资 本结构及影响因素进行了初步的研究，并给出了具体的改进策略。 本文首先对资本结构和融资行为理论进行了概述和评价，以此作为研 究的理论出发点。在此基础上，考察了我国上市公司资本结构的现状，分 析了影响上市公司资本结构的外部影响因素和内部影响因素，并对安徽省 上市公司资本结构进行了实证分析。在文章的最后，给出了具有针对性的 区域资本结构优化建议。 本文的主要工作在于运用2007年安徽上市公司财务数据，通过对资 本结构解释模型回归系数的估计，证明了成长性、企业规模、盈利能力、 非债务税盾与债务水平的相关关系，并提出了相应的政策建议。 关键字：上市公司融资行为资本结构模型优化 Research Research on the Financing Behavior and Capital Structure Optimization of Listed Companies of Anhui Province Abstract Accompany with the constant developing of China’S economy，great changes have happened in the property rights system，management system and financing behavior of China’S enterprises．Resulting capital structure of the enterprises is also having new changes．But how the capital structure of China’S regional listed companies now?What factors affect capital structure of the regional listed companies?Is it reasonable?At least at present there is no clear answeL This paper gives a research on the capital structure and its affecting factors and Set listed companies of Anhui Province as an example．On this basis， the author gives specific improvement strategies． This paper first outlined and evaluated the capital structure and financing theory．On this basis，at chapter 4，compared two different financing models： Japan and Germany model，Britain and US model．Then，investigated the status quo of the capital structure of China’S listed companies，Finding that the capital structure and the financing behavior of the listed companies in China is inconsistent with the capital structure theory，having its own characteristics． After this，analyzes the external factors and internal factors which impacting the capital structure of the listed companies，At last，gives the empirical Analysis of the capital structure of listed companies of Anhui Province and provides targeted optimization recommendations of regional cap