上市公司股权融资偏好分析研究——以互联网行业为例.pdfVIP

摘要 近年来，我国资本市场不断发展完善，在国民经济中，上市公司的地位不断 攀升，资产质量、经营行为、公司制度、管理理念等方面都优于我国非上市公司。 随着 5G 时代的到来，上市互联网公司发展势头稳中向好，对影响其融资偏好的 因素进行深入研究，有助于提出针对性的改进意见，帮助公司改善融资行为，优 化资本结构，提高市场价值。 文章首先回顾了国内外上市公司融资偏好影响因素的相关文献，学者们各抒 己见，研究成果中的突破性观点缺少，我国上市公司偏好何种融资方式，还未形 成统一的结论，并且，目前有关互联网行业上市公司进行融资偏好研究的文献较 缺乏。寻找到该研究切入点后，选取我国上市互联网公司进行融资偏好影响因素 研究，多元回归结果表明：成长性与股权融资偏好呈正相关，产权比率、股权集 中度、公司规模、盈利能力、营运能力、非债务税盾与股权融资偏好负相关。最 后，根据研究结论提出改进意见。 【关键词】互联网行业；资本结构；融资偏好 Abstract In recent years, Chinas capital market has been constantly developing and gradually improving, and listed companies have been gaining in status in the national economy. They are better than unlisted companies in asset quality, business behavior, corporate system and management philosophy. With the advent of 5G era, the development momentum of listed companies in the Internet industry is stable and improving. In-depth research on factors affecting their financing preference is helpful to put forward targeted improvement Suggestions, help companies improve their financing behavior, optimize capital structure and increase market value. This article first reviewed the domestic and foreign literatures about the influence factor of financing preference of listed companies, the scholars views, results of the study are lack of breakthrough point, what kind of financing preference of listed companies in our country, also did not form a unified conclusion, and current research on financing preference of listed companies in the Internet industry is lack of literatures. Selection to find the breakthrough point, the Internet industry in China listed companies financing preference research influence factors, multivariate regression results show that the growth is positively related to the equity fi