本文選題：房地產(chǎn)上市公司 + 資本結(jié)構(gòu)��； 參考：《青島科技大學(xué)》2014年碩士論文

【摘要】：本文在分析我國(guó)房地產(chǎn)上市公司資本結(jié)構(gòu)現(xiàn)狀的基礎(chǔ)上，結(jié)合公司資本結(jié)構(gòu)與盈余質(zhì)量的理論關(guān)系，選取相關(guān)指標(biāo)，，用實(shí)證分析的方法研究了房地產(chǎn)上市公司資本結(jié)構(gòu)是否對(duì)其盈余質(zhì)量產(chǎn)生影響，并試圖找到二者的相關(guān)關(guān)系，根據(jù)研究結(jié)果提出對(duì)策建議。 首先，對(duì)房地產(chǎn)上市公司的資本結(jié)構(gòu)和盈余質(zhì)量進(jìn)行了描述性統(tǒng)計(jì)，分析房地產(chǎn)上市公司的資本結(jié)構(gòu)和盈余質(zhì)量的情況，闡述了房地產(chǎn)上市公司存在的財(cái)務(wù)風(fēng)險(xiǎn)。其次，在實(shí)證分析檢驗(yàn)方面，作者分別對(duì)房地產(chǎn)上市公司的資本結(jié)構(gòu)要素和盈余質(zhì)量要素各自選取了指標(biāo)，資本結(jié)構(gòu)指標(biāo)的選取是選用了被國(guó)內(nèi)外研究所廣泛采用的總負(fù)債/總資產(chǎn)計(jì)算方式的資產(chǎn)負(fù)債率；根據(jù)對(duì)盈余質(zhì)量的分析選取了相關(guān)指標(biāo)。本文選取在深圳證券交易所發(fā)行A股的房地產(chǎn)上市公司作為研究樣本，并剔除了已發(fā)生財(cái)務(wù)危機(jī)的Pt、St公司，時(shí)間跨度為2010至2012年三年的時(shí)間。實(shí)證檢驗(yàn)部分首先對(duì)選取的盈余質(zhì)量指標(biāo)進(jìn)行因子分析和檢驗(yàn)，得出影響盈余質(zhì)量的三類要素，并計(jì)算出其綜合得分。之后以計(jì)算出的盈余質(zhì)量綜合得分為被解釋變量，以代表資本結(jié)構(gòu)的資產(chǎn)負(fù)債率作為影響因素即解釋變量，進(jìn)行回歸分析。經(jīng)實(shí)證檢驗(yàn)得到資本結(jié)構(gòu)對(duì)盈余質(zhì)量有影響，二者負(fù)向相關(guān)的結(jié)論。最后，本文針對(duì)這一結(jié)論對(duì)我國(guó)房地產(chǎn)上市公司如何規(guī)范資本結(jié)構(gòu)，提高盈余質(zhì)量提出了若干對(duì)策建議。
[Abstract]:Based on the analysis of the present situation of the capital structure of the listed real estate companies in China and the theoretical relationship between the capital structure of the companies and the quality of earnings, this paper selects the relevant indicators. This paper studies whether the capital structure of listed real estate companies has an impact on their earnings quality with the method of empirical analysis, and tries to find out the correlation between the two, and puts forward some countermeasures and suggestions according to the results of the research. Firstly, the capital structure and earnings quality of real estate listed companies are analyzed, and the financial risks of real estate listed companies are expounded. Secondly, in the aspect of empirical analysis, the author selects the capital structure factors and earnings quality factors of listed real estate companies respectively. The choice of capital structure index is to select the ratio of assets and liabilities which is widely used by domestic and foreign research institutes to calculate total liabilities / total assets, and to select the relevant indexes according to the analysis of earnings quality. In this paper, the real estate listed companies issued in Shenzhen Stock Exchange are selected as the research samples, and the time span from 2010 to 2012 is three years. In the part of empirical test, the factor analysis and test of the selected earnings quality index are carried out, and three kinds of factors affecting earnings quality are obtained, and their comprehensive scores are calculated. Then, taking the calculated earnings quality comprehensive score as the explained variable and the asset-liability ratio representing the capital structure as the influencing factor, the regression analysis is carried out. The empirical results show that the capital structure has an effect on the earnings quality, and the two are negatively related to each other. Finally, this paper puts forward some countermeasures and suggestions on how to standardize the capital structure and improve the earnings quality of the listed real estate companies in China.
【學(xué)位授予單位】：青島科技大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F299.233.42

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