| 影响上市公司资本结构的因素分析 |
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| 引用本文： | 苏剑.影响上市公司资本结构的因素分析[J].沈阳教育学院学报,2012,14(2):27-30. |
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| 作者姓名： | 苏剑 |
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| 作者单位： | 沈阳大学工商管理学院,辽宁沈阳,110044 |
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| 摘 要： | 以2006年深圳证券交易所上市的发行A股的公司作为研究样本,首先利用因子分析的方法从15个分别代表破产成本、代理成本以及节税效果的财务指标中选取了6个能够对资本结构决策产生影响的因子,然后运用多元回归分析证明这6个因子都对资本结构具有显著影响。分析发现,样本企业的融资行为基本遵循了融资优序理论所定义的先内部资金后外部资金的融资顺序。这也说明即使中国的资本市场尚待完善,中国企业的融资原则也已经与国际资本市场的惯例接轨。
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| 关 键 词： | 上市公司 影响因子 资本结构 融资优序理论 |
Analysis of Factors Affecting the Structure of Listed Companies |
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| SU Jian.Analysis of Factors Affecting the Structure of Listed Companies[J].Journal of Shenyang College of Education,2012,14(2):27-30. |
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| Authors: | SU Jian |
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| Institution: | SU Jian(College of Business Administration,Shenyang University,Shenyang 110044,China) |
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| Abstract: | It is exemplified that the sample data of companies is listed on Shenzhen Stock Exchange by the factor analysis in 2006.First,six indicators are selected from fifteen financial ones representing bankruptcy costs,agency costs and controlled tax effect.Then,it is found that the sample of companies can follow principles of the pecking order theory and show that although Chinese capital market has many matters,Chinese enterprises have already accepted the principle of international capital markets. |
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| Keywords: | listed company factor analysis capital structure pecking order theory |
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