本文選題：農(nóng)業(yè)類上市公司　切入點(diǎn)：成長(zhǎng)性　出處：《吉林大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：伴隨近年來實(shí)體經(jīng)濟(jì)逐步明朗和通貨膨脹壓力的持續(xù)上升，作為我國(guó)國(guó)民經(jīng)濟(jì)的重要組成部分的農(nóng)業(yè)類企業(yè)，是農(nóng)業(yè)發(fā)展的重要力量，已經(jīng)或者正在經(jīng)歷著成長(zhǎng)的困境。先后成立的我國(guó)資本市場(chǎng)中的主板、中小板以及創(chuàng)業(yè)板為農(nóng)業(yè)類企業(yè)的直接融資開辟了多重途徑，也為農(nóng)業(yè)類企業(yè)構(gòu)建合理的資本結(jié)構(gòu)搭建了一個(gè)基礎(chǔ)平臺(tái)。 而成長(zhǎng)性是企業(yè)最本質(zhì)的特點(diǎn)，國(guó)內(nèi)外對(duì)企業(yè)成長(zhǎng)性的研究也已成熟，但對(duì)資本結(jié)構(gòu)與成長(zhǎng)性關(guān)系的觀點(diǎn)還未達(dá)成一致。對(duì)于不確定性較強(qiáng)的農(nóng)業(yè)類企業(yè)，資本結(jié)構(gòu)的不同會(huì)影響企業(yè)的成長(zhǎng)。本文則在此基礎(chǔ)上，，從農(nóng)業(yè)類企業(yè)的本質(zhì)特點(diǎn)出發(fā)，主要結(jié)合財(cái)務(wù)數(shù)據(jù)和實(shí)證方法對(duì)主板農(nóng)業(yè)類上市公司的資本結(jié)構(gòu)與成長(zhǎng)性關(guān)系進(jìn)行研究，以尋求合理的資本結(jié)構(gòu)，進(jìn)而為農(nóng)業(yè)類企業(yè)的融資選擇上提供參考建議。 本文采用了規(guī)范分析與實(shí)證分析相結(jié)合的方法，利用截止到2014年3月的主板24家農(nóng)業(yè)類上市公司2010到2012年連續(xù)三年的相關(guān)年報(bào)數(shù)據(jù)對(duì)其資本結(jié)構(gòu)與成長(zhǎng)性采用回歸分析，并進(jìn)而在對(duì)該回歸結(jié)果進(jìn)行替換成長(zhǎng)性變量的穩(wěn)健性檢驗(yàn)，在該檢驗(yàn)中成長(zhǎng)性被替換為采用因子分析建立起來的多指標(biāo)評(píng)價(jià)體系，并與資本結(jié)構(gòu)變量進(jìn)行二次回歸分析，兩次回歸分析共同得出了農(nóng)業(yè)類企業(yè)資本結(jié)構(gòu)中資產(chǎn)負(fù)債率與其成長(zhǎng)性負(fù)相關(guān)，債務(wù)期限結(jié)構(gòu)與其成長(zhǎng)性正相關(guān)的結(jié)論。
[Abstract]:With the real economy gradually clear and inflation pressure rising in recent years, agricultural enterprises, as an important part of our national economy, are the important forces of agricultural development. The main board, small and medium-sized board and growth enterprise board in China's capital market have opened up many ways for the direct financing of agricultural enterprises. Also for agricultural enterprises to build a reasonable capital structure to build a basic platform. Growth is the most essential characteristic of enterprises. The research on enterprise growth has been mature at home and abroad, but there is no agreement on the relationship between capital structure and growth. The difference of capital structure will affect the growth of enterprises. This paper mainly studies the relationship between capital structure and growth of agricultural listed companies on the main board by combining financial data and empirical methods in order to seek a reasonable capital structure and provide reference suggestions for the financing choice of agricultural enterprises. This paper adopts the method of combining normative analysis with empirical analysis, and adopts regression analysis to analyze the capital structure and growth of 24 agricultural listed companies from 2010 to 2012 from 2010 to 2012. In this test, the growth is replaced by the multi-index evaluation system established by factor analysis, and the quadratic regression analysis is carried out with the capital structure variable, and then the stability test of the replacement growth variable is carried out on the regression results, in which the growth is replaced by the multi-index evaluation system established by factor analysis, and the second regression analysis is carried out with the capital structure variable. Two regression analyses show that the asset-liability ratio is negatively correlated with its growth, and the debt maturity structure is positively correlated with its growth in the capital structure of agricultural enterprises.
【學(xué)位授予單位】：吉林大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F275;F324;F832.51

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