我国上市公司融资方式选择的状况及效应分析  

The Status and Analysis on the Choice of the Financial Way of Our Quoted Companies

作　　者：高明生[1] 王艳波[2] 

机构地区：[1]南开大学金融系,天津300071 [2]东北师范大学政法学院,吉林长春130024

出　　处：《税务与经济》2004年第6期5-8,共4页Taxation and Economy

摘　　要：目前,中国上市公司的资本结构的现状呈现负债偏低、股权比例偏高的特征。形成这一特征的原因有外生性的,也有内生性的。由于资本结构的不合理,使得中国上市企业资本结构的效应较差,没有发挥应有的作用。优化中国上市公司的资本结构,应从扩大债务融资比重、规范和发展债券市场、构建风险退出机制、完善财务治理机制等方面入手。At present,the capital structure of the quoted companies in China is in a character of low debts and high stock right.The reason for this is caused internally and externally also.The poor effectiveness of the capital structure of our quoted companies is caused by the unreasonable capital structures in China.Perfecting the capital structure of our quoted companies is based on enlarging financial ratio,regulating and cultivating stock markets,building up mechanism of risk evasion,improving the mechanism of financial supervision.

关 键 词：上市公司 融资方式 中国 资本结构 债务融资 债券市场 

分 类 号：F279.246[经济管理—企业管理] F275.1[经济管理—国民经济]