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上市公司資本結構對績效的影響上市房地產公司的實證分析

時間:2016-12-12 20:58來源:畢業論文
上市公司資本結構與公司績效的研究是經濟發展的必然產物。隨著我國市場經濟的不斷完善,公司制度的不斷規范,公司資本結構的合理性探討成為了理論界和實務界的研究熱點。本文

摘要:資本結構問題是一個具有重大理論價值和實踐意義的研究課題,它不僅影響公司的資本成本和公司績效,而且影響公司的治理結構(公司相關利益者的利益權衡契約的關系)。如何合理地安排上市公司的資本結構以使其績效達到最優水平是公司金融實踐中的重要課題。資本結構問題在西方已經形成了一套比較成熟的理論,為公司金融實踐提供了有益的指導。然而,國外的資本結構理論以公司治理結構較為完善、資本多元化、資金來源充足穩定作為前提條件,并以發達的商品經濟為基礎,其主要目標是在既定的經濟和金融體制下研究資本結構的優化方法。
上市公司資本結構與公司績效的研究是經濟發展的必然產物。隨著我國市場經濟的不斷完善,公司制度的不斷規范,公司資本結構的合理性探討成為了理論界和實務界的研究熱點。本文選擇房地產行業作為研究樣本是因為房地產行業同時大幅影響其他眾多行業,例如:水泥、運輸、鋼鐵、建材、建筑機械、物業管理等;且房地產行業產值巨大,占國民經濟比重較大,是當前我國經濟的重要組成部分。4264
關鍵詞: 資本結構;上市公司;績效分析;房地產公司4264
The capital structure of listed companies in the impact analysis for performance
Abstract:Capital structure is a problem of great theoretical and practical significance of the research topic, it not only affects the company's cost of capital and corporate performance, but also affects the company's governance structure (the stakeholders trade-offs contractual relationship).It is an important issue for the companies at the time of their finance practice to make reasonable arrangements for the capital structure of listed companies in order to make optimal level of performance. Capital Structure in the West has formed a relatively mature theory of corporate finance practice provides useful guidance. However, foreign capital structure theory to corporate governance structure better, capital diversification, adequate and stable sources of funding as a prerequisite, and developed commodity-based economy, whose main objective is the economic and financial system established under the Capital Structure Research optimization method.

源`自*六)維[論*文'網www.aftnzs.live


  Capital Structure and Corporate Performance study is the inevitable product of economic development. As China's market economy continues to improve, companies continue to regulate the system, the company's capital structure Rationality of theory and practice has become the hot spot. Select the real estate industry as a research paper sample is because the real estate industry significantly affects many other industries, such as: cement, transportation, steel, building materials, construction machinery, property management, etc.; great value and the real estate industry, accounting for a larger proportion of the national economy, is the current an important part of our economy

Key Words:Capital structure; listed companies; Performance analysis;property company

 
目錄
引言:    2
一 資本結構以及公司績效理論概述    3
(一)資本結構的概念    3
(二)資本結構理論發展    3
1、早期資本結構理論    3
2、經典資本結構理論    4
3、現代資本結構理論    5
(三)企業經營績效與融資結構關系    5
1、企業經營績效    5
2、企業經營績效與融資結構關系    5
二、我國上市公司資本結構的不足    6
(一)融資結構不合理,偏好股權融資    6
1、外部融資比重大,內部融資比例小    6 上市公司資本結構對績效的影響上市房地產公司的實證分析:http://www.aftnzs.live/kuaiji/20161212/849.html
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