基于股权结构的债务期限结构分析  

Analysis of Debt Maturity Structure Based on Ownership Structure

作　　者：曹玉贵[1] 王焕焕[1] 张佳佳[1] 

机构地区：[1]华北水利水电学院,河南郑州450011

出　　处：《华北水利水电学院学报》2011年第2期143-146,共4页North China Institute of Water Conservancy and Hydroelectric Power

基　　金：河南省政府决策招标课题(B397);河南省教育厅自然科学研究计划项目(2010A630057)

摘　　要：以2007—2009年我国沪深A股上市公司的面板数据为样本,检验了股权结构对债务期限结构选择的影响.实证分析结果显示,股权集中度与债务期限结构呈显著的正U型关系,股权制衡、管理者持股比例、国有股比例与债务期限结构的关系并不显著,法人股比例与债务期限结构呈显著的负相关关系.Taking the panel data of Shanghai and Shenzhen A-share listed company from 2007 to 2009 in China as an example,the impact of ownership structure on the choice of debt maturity structure was examined.The results of empirical analysis indicated that a significant positive U-shaped correlation existed between ownership concentration and debt maturity structure,but there wasn＇t a significant correlation between equity restrictions,the proportion of management shareholding,the proportion of state-owned share and debt maturity structure,as well as the proportion of corporate share and debt maturity structure was a remarkable negative correlation.

关 键 词：股权结构 债务期限 实证分析 

分 类 号：F279.246[经济管理—企业管理]