民营企业资本结构优化问题研究毕业论文.doc

毕业论文 （20_ _届） 民营企业资本结构优化问题研究 摘 要 随着经济发展，目前我国资本市场不断完善，民营企业的地位也越来越突出。资本结构问题是一个具有重大理论价值和实践意义的研究课题，它不仅影响公司的资本成本和公司绩效，而且影响公司的治理结构，如何合理地安排民营上市公司的资本结构使绩效最优化是财务实践中的重要课题。上市公司作为企业中的一个特殊群体来代表现代企业，研究上市公司的资本结构具有典型性和代表性。 本文以2008~2010年我国SPSS18软件对样本公司的资本结构影响决定因素进行描述性统计和相关性分析。研究结果显示：目前我国浙江民营上市制造公司资本结构不够理想；资产负债率与资产负债率、公司规模、盈利性、担保价值、成长性、股权结构存在显著相关性。针对上述问题，文章从五个方面提出了相应的合理化建议，为浙江民营上市制造公司优化其资本结构提供一定的借鉴与指导。 关键词：；；；Abstract With economic development, Chinas capital markets continue to improve the status of private enterprises has become increasingly prominent. Capital structure is a major theoretical and practical significance of the research project，it not only affects the companys cost of capital and corporate performance, but also affect the companys governance structure. How reasonable arrangements for private listed companys capital structure to optimize the financial performance of an important issue in practice. Listed company as special groups in the enterprise to represent the modern enterprise, the capital structure of listed companies is typical and representative. In this paper, from 2008 to 2010 of 30 listed manufacturing companies in Private sample, SPSS software samples through the companys capital structure, profitability and debt financing operation for descriptive statistics and correlation analysis. The results showed: at present, Chinas private listed manufacturing company in Zhejiang capital structure is not ideal; debt ratio and capital structure and asset-liability ratio, firm size, profitability, collateral value, growth, ownership structure significantly correlated. In response to these problems, the article from five proposals to rationalize the corresponding, private listed manufacturing company in Zhejiang Province to optimize their capital structure to provide a reference and guidance. Keywords: Private enterprise; Capital structure; Asset-liability ratio; Debt structure 目录 1 资本结构的理论 1 1.1 资本结构的概念 1 1.2资本结构理论 2 1.2.1传统资本结构理论 2 1.2.2 现代资本结构理论 3 1.2.3 新资本结构理