本文關鍵詞：裝備制造業(yè)上市公司融資結構影響因素研究　出處：《云南大學》2015年碩士論文　論文類型：學位論文

  更多相關文章： 裝備制造業(yè) 融資 影響因素

【摘要】：裝備制造業(yè)是我國工業(yè)的核心和基礎,它也是我國國際競爭力的核心所在。作為我國重點發(fā)展的核心產業(yè),裝備制造業(yè)為我國各行各業(yè)的正常運行提供了生產所必需的技術裝備,同時也極大地支持了其他產業(yè)技術進步和創(chuàng)新。我國資本市場正在不斷地改革與完善,裝備制造業(yè)上市公司的融資偏好與融資結構也隨之改變。因此,對于這樣一個融資需求很大的大型產業(yè)來說,探究它的融資結構有利于發(fā)現我國裝備制造業(yè)融資結構的特點和規(guī)律性特征。并且,針對融資結構的影響因素,可以提出相應改善裝備制造業(yè)融資結構的政策和建議。這樣一方面不但可以優(yōu)化企業(yè)融資結構,另一方面還能有利于企業(yè)的經營管理和提升裝備制造業(yè)的競爭優(yōu)勢。 本文根據國內外融資結構的理論成果,結合我國裝備制造業(yè)的特點,以深、滬兩市A股市場具有代表性的39家裝備制造業(yè)上市公司作為研究對象,并把39家裝備制造業(yè)上市公司分成了經營較好和經營欠佳的兩類,對兩類裝備制造業(yè)上市公司的融資結構展開了分析。首先,在界定融資結構等相關概念的基礎之上,運用描述性統(tǒng)計分析方法對其融資結構的變化歷程和特點進行了分析,得出我國裝備制造業(yè)上市公司的融資偏好順序發(fā)生了一定的變化。緊接著從上市公司盈利能力、償債能力、發(fā)展能力、營運能力和股利政策五個方面出發(fā),運用主成分分析法和多元線性回歸分析法,發(fā)現了這五種反映企業(yè)運營狀況的指標對企業(yè)融資結構影響的變動關系。最后,以提高裝備制造業(yè)的融資能力和優(yōu)化其融資結構為目的,提出了相應的政策和建議。 目前,提升裝備制造業(yè)的融資能力以及優(yōu)化它的融資結構已經勢在必行。科學地分析裝備制造業(yè)的融資結構,不但可以幫助企業(yè)改善經營,提升其經濟效益,更重要的是,還能提升我國的綜合國力。
[Abstract]:Equipment manufacturing industry is the core and foundation of our industry, it is also the core of our international competitiveness. The equipment manufacturing industry provides the necessary technical equipment for the normal operation of various industries in our country, at the same time, it also greatly supports the technological progress and innovation of other industries. China's capital market is constantly reforming and perfecting. The financing preference and financing structure of the listed companies in the equipment manufacturing industry have also changed. Therefore, for such a large industry with large financing needs. Exploring its financing structure will help to find the characteristics and regularity of the financing structure of China's equipment manufacturing industry. We can put forward the corresponding policies and suggestions to improve the financing structure of equipment manufacturing industry, on the one hand, we can not only optimize the financing structure of enterprises. On the other hand, it can also benefit the management of enterprises and enhance the competitive advantage of equipment manufacturing industry. According to the theoretical results of financing structure at home and abroad, combined with the characteristics of China's equipment manufacturing industry, this paper takes 39 listed equipment manufacturing companies in Shanghai and Shanghai as the research objects. And 39 equipment manufacturing listed companies are divided into two categories of good management and poor management, the financing structure of the two categories of equipment manufacturing listed companies are analyzed. First of all. Based on the definition of financing structure and other related concepts, the paper uses descriptive statistical analysis method to analyze the changing process and characteristics of its financing structure. It is concluded that the order of financing preference of listed companies in China's equipment manufacturing industry has changed to a certain extent. Then, it starts from five aspects of listed companies' profitability, solvency, development capacity, operating capacity and dividend policy. By using principal component analysis and multivariate linear regression analysis, we find the change relationship between the five indicators reflecting the operation of the enterprise on the corporate financing structure. Finally. In order to improve the financing ability of equipment manufacturing industry and optimize its financing structure, the corresponding policies and suggestions are put forward. At present, it is imperative to improve the financing ability and optimize the financing structure of the equipment manufacturing industry. Scientific analysis of the financing structure of the equipment manufacturing industry can not only help enterprises to improve their operation and enhance their economic benefits. More importantly, it can also enhance the overall national strength of our country.
【學位授予單位】：云南大學
【學位級別】：碩士
【學位授予年份】：2015
【分類號】：F406.7;F426.4;F224

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