我国中小板企业融资方式选择对企业盈利能力影响研究  

An Empiracal Analysis of the Effect of Financial Mode Selection of Small and Medium-sized Enterprises on Profiting

作　　者：金永红[1] 钱雯婷[1] 

机构地区：[1]华东理工大学商学院金融创新研究中心,上海200237

出　　处：《软科学》2010年第3期103-108,共6页Soft Science

基　　金：2005年度上海市教育科学研究项目(B05018);华东理工大学文科基金项目

摘　　要：回顾与我国中小企业融资情况有关的文献和企业资本结构理论,采取理论分析与实证研究相结合的技术路线,对我国中小企业板上市公司上市前财务数据进行统计分析,通过研究总结出中小企业融资偏好,进而考察样本企业的融资顺序是否符合融资优序理论,并且再进一步用CORREL函数分析企业融资方式与企业效益之间的联系。通过对成长性良好的中小板企业上市前的融资行为的研究,分析影响企业选择不同融资结构的因素,总结改善中小企业融资问题的途径。After reviewing some relevant literature on financing of small and medium - sized enterprises and capital structure theory, this paper analyzes statistically the financial data of Chinese small and medium - sized enterprises board before listing and concludes the financial preference of them by the way of the basic theory combined with the cases. Furthermore, it analyzes whether the financial order of sample enterprises confirming to the theory of superior financing order, and studies the relation between the mode of enterprises＇ financing and benefits by using CORREL function. This paper aims at analyzing the factors affecting the choice of financial structure of enterprises by studying the financial action of enterprises in small and medium - sized enterprises board before listing, in order to give reference to other small and medium - sized enterprises, and summarizes the ways to improve the financing problems of small and medium - sized enterprises.

关 键 词：内源融资 股权融资 债权融资 中小板企业 资本结构 

分 类 号：F273.4[经济管理—企业管理]