民营上市公司资本结构与经营绩效关系研究  

A Research on the Relationship between the Capital Structure of Private Listed Companies and Corporate Performance

作　　者：王晓晖[1] 许林[2] 

机构地区：[1]广东财经大学经济学院,广东广州510320 [2]华南理工大学经济与贸易学院,广东广州510006

出　　处：《浙江金融》2017年第6期31-37,共7页Zhejiang Finance

基　　金：2016年广东省软科学研究计划项目(2016A070705005)成果;2013年教育部人文社会科学研究青年项目(13YJC790150)成果;2017年华南理工大学中央高校基本科研业务费专项资金(2017XZD11)成果

摘　　要：本文以我国200家民营上市公司为研究样本,统计描述了我国民营上市公司资本结构的动态变化趋势和静态总体特征;随后运用多元线性回归模型和二次模型实证分析发现:资产负债率与民营上市企业的经营绩效具有显著负相关关系,且两者间二次曲线呈现"倒U型"特征;最后对民营上市公司资本结构的优化提出了几点对策建议。This paper is based on the 200 private listed companies as samples, firstly, descriptive statistical methods are used to analyze the changing trends of private listed companies＇ capital structure and static overall characteristics. In addition, an established multiple linear regression model and the second- curve mode/found that the rate of assets and liabilities of private listed companies have a significant negative effect on their operating performance, and the quadratic curve is ＂inverted U-shaped＂. Finally, based on the above conclusions, we give several suggestions on the optimization of the capital structure of private listed companies.

关 键 词：民营上市公司 资本结构 经营绩效 

分 类 号：F832.5[经济管理—金融学]