企業(yè)特征與再融資方式選擇——來自中國上市公司2007-2015年的經(jīng)驗數(shù)據(jù)
發(fā)布時間:2018-03-07 18:07
本文選題:企業(yè)特征 切入點:股權(quán)融資 出處:《經(jīng)濟問題》2017年08期 論文類型:期刊論文
【摘要】:企業(yè)特征因素會影響上市公司的再融資方式選擇。選取2007~2015年間實施增發(fā)、配股、可轉(zhuǎn)債的最新樣本數(shù)據(jù),運用獨立樣本T檢驗,構(gòu)建邏輯回歸模型,分析我國上市公司再融資方式的影響因素。研究表明:成長性高、營運能力好的上市公司傾向股權(quán)再融資;償債能力強、盈利性好又注重控制權(quán)收益的上市公司傾向可轉(zhuǎn)債再融資;公司成長性、償債能力、盈利能力和股權(quán)結(jié)構(gòu)對再融資方式的選擇影響十分顯著。
[Abstract]:Enterprise characteristics will affect the choice of refinancing methods of listed companies. Selecting the latest sample data from 2007 to 2015, using independent sample T test to build a logical regression model. This paper analyzes the influencing factors of refinancing mode of listed companies in China. The research shows that the listed companies with high growth and good operating ability tend to refinance by equity, and have strong solvency. The listed companies which are profitable and pay attention to the income of control tend to refinance on convertible bonds, and the growth, solvency, profitability and equity structure have a significant influence on the choice of refinancing methods.
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本文編號:1580371
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