北京市制造业上市公司资本结构影响因素的实证分析  

An Empirical Analysis on the Influence Factors of the Capital Structure of Listed Companies in the Manufacturing Industry in Beijing

作　　者：彭亚光[1] 

机构地区：[1]对外经济贸易大学,北京100029

出　　处：《经济研究导刊》2012年第6期66-69,共4页Economic Research Guide

摘　　要：企业资本结构作为上市公司所面临的决策问题,越来越受到重视。通过实证分析,用多元回归等统计学方法研究35家北京市制造业上市公司企业资本结构的影响因素。影响因素包括总资产、股东权益、流动比率、主营业务利润率、每股净资产、存货周转率、总资产增长率等7个指标。结果显示,企业的资本结构与企业规模呈正相关性,与偿债变现能力、企业盈利能力、企业投资价值呈负相关性。The research makes an empirical analysis on the main factors about influencing the capital structure of listed companies in the manufacturing industry in Beijing based on the finance data from 2008--2011.There are 35 companies in the manufacturing industry to be selected and 7 factors,including total assets,investor＇s equity,liquidity ratio, main business profit rate, net assets per share,inventory turn-over ratio and growth rate of total assets, to be considered.The results suggest that the company size has a significant positive association with capital structure, while there exists a negative correlation between the capital structure and the liquidity, profitability and invest- ment value for an entemrise. Other factors do not have an obvious association with the capital structure in this research.

关 键 词：资本结构 资产负债率 实证分析 上市公司 制造业 

分 类 号：F830.9[经济管理—金融学]