上市公司融资结构影响因素实证分析毕业论文.doc

毕业论文 （20_ _届） 上市公司融资结构影响因素实证分析 摘　　要 自二十世纪50年代至今的半个多世纪中，对公司融资结构的研究是国际金融理论界研究的热门话题之一，随着中国经济的健康稳步的发展，中国资本市场机制的不断完善和投融资体制改革的深化，中国企业将有更多的融资渠道可以选择。此时，研究中国企业的融资行为以及决策依据显得特别重要。因为公司融资结构的决策会影响到企业剩余收益的分配、企业剩余控制权以及公司的治理结构，最后会影响到企业的价值。 关键词：Abstract Since the twentieth century, over half a century since the 50s, the financing structure of the companys international finance community is a hot topic of research, as China’s economy healthy and stable development of Chinas capital market system of continuous improvement and investment and financing system reform, Chinese enterprises will have more financing channels to choose from. At this point, the study of Chinese enterprises based on financial behavior and decision-making is especially important. Because the structure of corporate financing decisions affect the allocation of residual income business, residual control rights and corporate governance structure of the company will eventually affect the value of the business. In this paper, the financing structure factors listed company as the research object, first define the concept of the structure of corporate finance, explained the financing structure theory, on the basis of listed companies obtained the financing structure of the internal and external factors, followed by asset-liability ratio as a measure of financing structure indicators, using multiple linear regression method of the top 100 listed companies in 2009, 80 in the data analysis as the samples to verify the various factors on the financing structure of listed companies, and finally obtained according to the results of regression analysis of listed companies financing structure factors are firm size, collateral value, profitability, non-debt tax shields, according to the results presented actively expand the equity financing, focusing on profitability, strengthen supervision and improve the laws and regulations, reform of business accounting system, accelerated depreciation of fixed assets of the proposed . Key