醫(yī)藥制造業(yè)屬于我國高技術行業(yè),在國民經濟中的地位很高。醫(yī)藥行業(yè)在新醫(yī)改的推進中得到長足發(fā)展,但在快速發(fā)展的同時暴露出許多問題。作為一個資本和技術密集型的行業(yè),醫(yī)藥行業(yè)的產品特性使得行業(yè)監(jiān)管十分嚴格,并且醫(yī)藥行業(yè)具有高投入,高回報,高風險等特點。我國醫(yī)藥行業(yè)的研發(fā)投入強度較低,融資問題突出,并且醫(yī)藥行業(yè)上市公司的資本結構各不相同。公司資本結構的不同可能是融資方式的不同導致的,資本結構通過企業(yè)的成本進一步影響企業(yè)績效。目前關于醫(yī)藥行業(yè)兩者之間關系的研究比較少,得出的結論各不相同。因此研究該話題具有重要意義。本文首先梳理相關文獻并闡述相關理論。通過分析相關理論,建立起二者之間的理論機制,并參照之前的研究建立理論模型。然后根據目前醫(yī)藥行業(yè)的發(fā)展,分類研究化學制藥、中藥和生物制藥三大行業(yè)的具體情況。本文選取62家上市公司2013年一季度——2018年四季度的季度數據,對資本結構與企業(yè)績效的關系進行實證分析。分析得出我國醫(yī)藥行業(yè)具有資產負債率總體偏低,短期流動負債比例較高的特征。再根據以往學者的研究成果及相關理論,提出研究假設并建立實證模型。通過建立面板門檻回歸模型,我們得出化學制藥行業(yè)存在門檻效... 

【文章來源】：青島大學山東省

【文章頁數】：72 頁

【學位級別】：碩士

【文章目錄】：
摘要
Abstract
Chapter 1 Introduction
    1.1 Research Background and Significance
        1.1.1 Research Background
        1.1.2 Research Significance
    1.2 Literature Review
        1.2.1 Foreign Literature Review
        1.2.2 Domestic Literature Review
        1.2.3 Literature Review on Capital Structure of Chinese Pharmaceutical Industry
        1.2.4 Influencing Factors of Capital Structure
        1.2.5 A Summary of the Literature Review
    1.3 Research Content and Framework
    1.4 Research Methods
    1.5 Possible Innovations and Deficiencies
Chapter 2 The Theoretical Basis of Capital Structure and Enterprise Performance
    2.1 Concept Definition
        2.1.1 Capital Structure
        2.1.2 Enterprise Performance
    2.2 Theoretical Basis
        2.2.1 Early Capital Structure Theory
        2.2.2 Modern Capital Structure Theory
        2.2.3 New Capital Structure Theory
    2.3 Analysis of Theoretical Mechanism
        2.3.1 Analysis of the Impact of Capital Structure on Enterprise Performance
        2.3.2 Optimal Capital Structure Model
Chapter 3 Analysis of the current situation of Chinese pharmaceutical manufacturing industry
    3.1 Development status and characteristics of pharmaceutical manufacturing industry
        3.1.1 Development status of pharmaceutical manufacturing industry
        3.1.2 Development characteristics of pharmaceutical manufacturing industry
    3.2 Analysis of the status quo of three listed pharmaceutical companies
        3.2.1 There are significant differences in enterprise size
        3.2.2 Capital structure
        3.2.3 Enterprise performance
Chapter 4 Research and Design on the Impact of Capital Structure on Enterprise Performance
    4.1 Research Hypothesis
    4.2 Sample Selection and Data Source
    4.3 Variable Selection and Definition
        4.3.1 Explained Variables
        4.3.2 Explanatory Variables
        4.3.3 Control Variables
    4.4 Descriptive Statistics
Chapter 5 Empirical Analysis
    5.1 Building panel threshold regression model(PTRM)
    5.2 Unit Root Test
    5.3 Basic Regression Results
    5.4 Robustness Test
Chapter 6 Conclusions and Policy Recommendations
References
Research during the course of a degree
Thanks



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