本文選題：上市公司　切入點(diǎn)：資本結(jié)構(gòu)　出處：《上海交通大學(xué)》2012年碩士論文

【摘要】：企業(yè)資本結(jié)構(gòu)的問(wèn)題是公司財(cái)務(wù)領(lǐng)域里重要的課題。優(yōu)化企業(yè)的資本結(jié)構(gòu)能夠使企業(yè)的經(jīng)營(yíng)績(jī)效得到提升。企業(yè)資本結(jié)構(gòu)的優(yōu)化包括股權(quán)融資和債權(quán)融資的比例以及債務(wù)融資的來(lái)源和構(gòu)成等。 本文除前言外一共分為六章。前言部分簡(jiǎn)要地介紹了本文的研究背景和研究意義；第一章為文獻(xiàn)綜述，介紹了關(guān)于企業(yè)資本結(jié)構(gòu)的傳統(tǒng)理論以及國(guó)內(nèi)外的研究情況；第二章為數(shù)據(jù)分析，主要分析了我國(guó)上市公司資本結(jié)構(gòu)情況；第三章為模型建立，選取總資產(chǎn)報(bào)酬率作為因變量，資產(chǎn)負(fù)債率、流動(dòng)負(fù)債比率、企業(yè)銷(xiāo)售收入等作為自變量，建立多元線性回歸模型分析了樣本資本結(jié)構(gòu)和企業(yè)績(jī)效的關(guān)系；第四章為行業(yè)合理資本結(jié)構(gòu)建議，此部分運(yùn)用JMP的數(shù)據(jù)分割功能分析了所有23個(gè)行業(yè)的最優(yōu)資本結(jié)構(gòu)，得出資本結(jié)構(gòu)與企業(yè)經(jīng)營(yíng)績(jī)效的關(guān)系必須分行業(yè)討論的結(jié)論，并選取房地產(chǎn)、化工、商業(yè)貿(mào)易、機(jī)械設(shè)備、生物醫(yī)藥五個(gè)行業(yè)分析了行業(yè)的資產(chǎn)負(fù)債率情況以及影響行業(yè)資產(chǎn)負(fù)債率的因素；第五章為資本結(jié)構(gòu)優(yōu)化建議，此部分分析了我國(guó)債券市場(chǎng)的發(fā)展情況，以及發(fā)行債券融資和銀行貸款融資的區(qū)別，，給出企業(yè)發(fā)行公司債進(jìn)行融資的建議；第六章為結(jié)論部分，總結(jié)了全文的內(nèi)容和觀點(diǎn)。
[Abstract]:The problem of enterprise capital structure is an important issue in the field of corporate finance. Optimizing the capital structure of the enterprise can improve the performance of the enterprise. The optimization of the capital structure of the enterprise includes the proportion of equity financing and debt financing. And the source and composition of debt financing. This paper is divided into six chapters in addition to the foreword. The preface briefly introduces the research background and significance of this paper. The first chapter is a literature review, introducing the traditional theory of enterprise capital structure and the research situation at home and abroad. The second chapter is the data analysis, mainly analyzes the capital structure of the listed companies in China, the third chapter is the establishment of the model, selecting the total return on assets as dependent variables, asset-liability ratio, current debt ratio, sales income as independent variables, etc. A multivariate linear regression model is established to analyze the relationship between the sample capital structure and firm performance. Chapter four is about the reasonable capital structure of the industry. This part uses the data segmentation function of JMP to analyze the optimal capital structure of all 23 industries. We draw the conclusion that the relationship between capital structure and business performance must be discussed by industry, and select real estate, chemical industry, commercial trade, machinery and equipment. The five industries of biomedicine have analyzed the situation of the asset-liability ratio of the industry and the factors influencing the asset-liability ratio of the industry. Chapter five is the capital structure optimization suggestion, this part has analyzed the development of the bond market in our country. As well as the difference between issuing bond financing and bank loan financing, this paper gives the suggestion of corporate bond financing. Chapter 6 is the conclusion part, which summarizes the content and viewpoint of this paper.
【學(xué)位授予單位】：上海交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類(lèi)號(hào)】：F275;F832.51

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