本文選題：創(chuàng)業(yè)板　切入點：上市公司　出處：《湖南科技大學》2014年碩士論文　論文類型：學位論文

【摘要】：創(chuàng)業(yè)板市場作為新興崛起的資本市場，目前來說還未受到國內(nèi)經(jīng)濟學家的廣泛關(guān)注，經(jīng)濟學家們更傾向于對主板市場和中小板市場的研究。但就目前的研究成果來看，創(chuàng)業(yè)板市場發(fā)展迅速，由起步時的28家上市公司發(fā)展到現(xiàn)今的300多家，遍布國內(nèi)近30個省市，80多個城市。創(chuàng)業(yè)板市場作為建立多層次資本市場的重要組成部分，其主要目標是對于中小型新興發(fā)展的高新技術(shù)企業(yè)的資本運作給予扶持。目前，中國正處在經(jīng)濟轉(zhuǎn)型的重要時期，具有創(chuàng)新性的新興成長型中小企業(yè)注定要在我國發(fā)展國民經(jīng)濟的道路上扮演十分重要的角色，但是就客觀事實來看，我國先如今資本結(jié)構(gòu)并不完善，還有不夠健全的誘導機制，缺少資本退出機制，所以這些問題使得高成長中的新興中小企業(yè)存在普遍融資困難的問題，所以說，研究我國創(chuàng)業(yè)板上市公司融資結(jié)構(gòu)對其業(yè)績的影響關(guān)系，對于創(chuàng)業(yè)板市場發(fā)展的推動，資本市場體制健全及完善，具有舉足輕重的意義。 本文主要將我國創(chuàng)業(yè)板上市公司融資結(jié)構(gòu)對其業(yè)績的影響關(guān)系作為主要的研究對象，首先以緒論的方式闡述了文章的研究背景、目的及意義，同時簡要地結(jié)合了研究方法與內(nèi)容，并根據(jù)國內(nèi)外相關(guān)資本結(jié)構(gòu)和公司績效的理論及文獻資料按照時間順序進行系統(tǒng)綜述。接著就是根據(jù)國外創(chuàng)業(yè)板上市公司的特點，對中國創(chuàng)業(yè)板市場進行客觀分析，界定融資結(jié)構(gòu)的定義并介紹具有中國特色的創(chuàng)業(yè)板上市公司的融資以及公司績效的相關(guān)理論。在第三章里面通過因子分析法簡單說明了我國上市公司的綜合績效水平以及利用SPSS１８.０統(tǒng)計軟件，研究樣本選擇在2011年1月1日之前上市的公司，財務(wù)指標所在報告期為2012年12月31日，，并剔除數(shù)據(jù)不全的公司樣本，經(jīng)過上述操作之后,我們的研究樣本包括154個公司年度觀測值。根據(jù)這154加上市公司作為研究樣本進行實證分析，以期證實創(chuàng)業(yè)板市場下融資結(jié)構(gòu)與公司績效的關(guān)系。最后根據(jù)實證結(jié)果，提出個人的問題與建議，期望能為創(chuàng)業(yè)板企業(yè)融資難、結(jié)構(gòu)合理化尋找一些切實可行的幫助。
[Abstract]:As a newly rising capital market, the gem market has not been widely concerned by domestic economists. Economists are more inclined to study the main board market and the small and medium-sized market. However, according to the current research results, The gem market has developed rapidly, from 28 listed companies at the beginning to more than 300 at present, and has spread over 80 cities in nearly 30 provinces and cities in China. As an important part of establishing a multi-level capital market, the gem market is an important part of the establishment of a multi-level capital market. Its main goal is to support the capital operation of high-tech enterprises with small and medium-sized emerging development. At present, China is in an important period of economic transformation. Innovative new growth SMEs are destined to play a very important role in the development of our national economy, but from the objective facts, our capital structure is not perfect, and there is not a sound induction mechanism. Lack of capital exit mechanism, so these problems make the emerging SMEs in high growth have general financing difficulties, so, we study the relationship between the financing structure of listed companies on the gem and their performance. It is of great significance to promote the development of gem and perfect the system of capital market. In this paper, the main research object is the relationship between the financing structure of listed companies on the gem and its performance. Firstly, the background, purpose and significance of the article are described in the way of introduction. At the same time, it briefly combines the research methods and contents, and makes a systematic review according to the theory of capital structure and corporate performance at home and abroad and literature data according to the time order. Then, according to the characteristics of foreign gem listed companies, An objective analysis of the gem market in China, Define the definition of financing structure and introduce the financing and corporate performance theory of gem listed companies with Chinese characteristics. In the third chapter, we simply explain the comprehensive performance of listed companies in our country by factor analysis. Level and use of SPSS18.0 statistical software, The study sample selected companies listed before January 1st 2011, the financial indicators for the reporting period was December 31st 2012, and after removing the sample of companies with incomplete data, after the above operation, Our research sample includes 154 company annual observations. According to the 154 listed companies as a sample of empirical analysis, in order to verify the relationship between financing structure and corporate performance in the gem market. Finally, according to the empirical results, This paper puts forward personal problems and suggestions, hoping to find some practical help for the financing of gem enterprises and the rationalization of structure.
【學位授予單位】：湖南科技大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F275;F832.51

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