【摘要】：一個(gè)企業(yè)的融資偏好是由這個(gè)企業(yè)各種融資方式的所占比來(lái)表現(xiàn)出來(lái),其融資方式占比最高的,就表現(xiàn)出來(lái)企業(yè)在選擇融資方式上呈現(xiàn)出來(lái)的融資偏好。上市公司的發(fā)展是否健康并且能夠可持續(xù)發(fā)展與上市公司融資偏好息息相關(guān)。因?yàn)樯鲜泄具x取不同的融資方式,會(huì)帶來(lái)不同的融資成本。因此,選擇何種融資方式對(duì)上市公司的發(fā)展來(lái)說(shuō)影響重大。近年來(lái)國(guó)家大力促進(jìn)農(nóng)業(yè)企業(yè)的發(fā)展,農(nóng)業(yè)上市公司對(duì)我國(guó)農(nóng)業(yè)的發(fā)展起到了帶領(lǐng)的作用。隨著時(shí)間的推移,農(nóng)業(yè)上市公司已經(jīng)成為上市公司的一部分。通過(guò)選取2013年的截面并進(jìn)行數(shù)據(jù)分析,我國(guó)農(nóng)業(yè)上市公司在選擇何種融資方式上,首先會(huì)選擇股權(quán)融資,呈現(xiàn)出股權(quán)融資偏好的傾向。眾所周知,上市公司過(guò)分依賴股權(quán)融資對(duì)其長(zhǎng)遠(yuǎn)的發(fā)展是不利的,因此,研究我國(guó)農(nóng)業(yè)上市公司的融資偏好十分重要。本論文選取的財(cái)務(wù)指標(biāo)來(lái)源于2013年所篩選出來(lái)的農(nóng)業(yè)上市公司,以國(guó)內(nèi)外研究方法為依據(jù),利用SPSS軟件,運(yùn)用“向后”回歸的方法篩選影響農(nóng)業(yè)上市公司的融資偏好的因素。第一部分引言部分,介紹了本論文的研究背景。第二部分為融資結(jié)構(gòu)的研究綜述。此部分主要從理論部分介紹了國(guó)內(nèi)外的研究成果。第三部分通過(guò)數(shù)據(jù)的統(tǒng)計(jì)和圖表的呈現(xiàn),介紹了我國(guó)農(nóng)業(yè)上市公司的發(fā)展現(xiàn)狀,資本結(jié)構(gòu)特征以及融資結(jié)構(gòu)特征,并得到我國(guó)農(nóng)業(yè)上市公司股權(quán)融資偏好的結(jié)果。第四部分從四個(gè)方面闡述了股權(quán)融資偏好對(duì)農(nóng)業(yè)上市公司發(fā)展的負(fù)面影響。第五部分所得稅、資本結(jié)構(gòu)、盈利能力、股權(quán)結(jié)構(gòu)等方面介紹了我國(guó)農(nóng)業(yè)上市公司為何會(huì)呈現(xiàn)出股權(quán)融資的偏好。第六部分選取2013年年末農(nóng)業(yè)上市公司A股為研究對(duì)象,共收集了17家符合條件的公司作為樣本,運(yùn)用SPSS多元線性回歸的方法從公司規(guī)模、盈利能力、股本結(jié)構(gòu),增長(zhǎng)能力等幾個(gè)方面,利用企業(yè)債務(wù)融資率作為衡量農(nóng)業(yè)上市公司股權(quán)偏好的被解釋變量,討論各個(gè)影響因素對(duì)融資偏好的影響。第七部分首先對(duì)全文進(jìn)行了總結(jié),然后從宏觀和微觀兩個(gè)方面為如何優(yōu)化我國(guó)農(nóng)業(yè)上市公司融資結(jié)構(gòu)提出了對(duì)策建議。
[Abstract]:The financing preference of an enterprise is manifested by the proportion of various financing ways of the enterprise, and the highest proportion of the financing mode shows the financing preference of the enterprise in the choice of financing mode. Whether the development of listed companies is healthy and sustainable is closely related to the financing preferences of listed companies. Because listed companies choose different financing methods, will bring different financing costs. Therefore, the choice of financing methods to the development of listed companies has a significant impact. In recent years, the government has promoted the development of agricultural enterprises, and agricultural listed companies have played a leading role in the development of agriculture in China. With the passage of time, agricultural listed companies have become a part of listed companies. By selecting the section of 2013 and analyzing the data, the listed agricultural companies of our country first choose equity financing, which shows the tendency of equity financing preference. It is well known that excessive reliance on equity financing is unfavorable to the long-term development of listed companies. Therefore, it is very important to study the financing preferences of agricultural listed companies in China. The financial index selected in this paper comes from the agricultural listed companies which were selected in 2013. Based on the domestic and foreign research methods, using SPSS software, using the "backward" regression method to screen the factors that affect the financing preference of agricultural listed companies. The first part introduces the background of this thesis. The second part is a summary of the research on financing structure. This part mainly introduces the domestic and foreign research results from the theoretical part. The third part introduces the status quo, capital structure and financing structure characteristics of agricultural listed companies in China through statistics and chart presentation, and obtains the results of equity financing preference of agricultural listed companies in China. The fourth part expounds the negative impact of equity financing preference on the development of agricultural listed companies from four aspects. The fifth part of income tax, capital structure, profitability, equity structure and other aspects of China's agricultural listed companies show a preference for equity financing. The sixth part selects A shares of agricultural listed companies in late 2013 as the research object, collects 17 qualified companies as samples, uses SPSS multiple linear regression method from the company size, profitability, equity structure. This paper discusses the influence of various factors on the financing preference of agricultural listed companies by using the debt financing rate as the explanatory variable to measure the equity preference of agricultural listed companies in several aspects such as growth ability and so on. The seventh part firstly summarizes the whole paper, and then puts forward some countermeasures and suggestions on how to optimize the financing structure of agricultural listed companies in China from the macro and micro aspects.
【學(xué)位授予單位】：安徽農(nóng)業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F324;F302.6

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本文編號(hào)：2399024