创业板上市公司资本结构及其影响因素分析_大学生毕业设计论文.docVIP

创业板上市公司资本结构及其影响因素分析 摘 要：2009年10月23日创业板开板仪式后,首批28家创业板公司于2009年10月30日集中在深证证券交易所上市,从此拉开了中国创业板的序幕。创业板企业是我国国民经济的重要组成部分，针对创业板上市公司的特点和特殊性，本文选择在创业板上市首批28家公司探讨其资本结构，进而为创业板上市公司在寻求合理的资本结构方面提供一些参考。本文先对国内外关于资本结构的理论和文献进行了简单的回顾和综述，紧接着简要对资本结构的影响因素进行了分析，最后对创业板企业各项财务指标进行了统计和分析。以2010-2012年年在创业板上市的28家公司公布的年度财务数据，采用描述性分析法，对其资本结构问题进行了分析，通过相关数据研究发现：我国创业板企业总体的资产负债率较低。进一步研究表明，创业板企业资产负债率与公司成长性,资产结构,公司规模,资产流动性呈正相关关系，与其盈利能力负相关。文章研究的目的在于分析总结创业板上市公司存在的现实问题，并提出了几点改善我国创业板上市公司资本结构和融资环境的建议。希望通过本文的研究，能为创业板上市公司寻求合理的资本结构。 关键词：创业板上市公司； 资本结构； 资产负债率 The Analysis of GEM-listed Companys Capital Structure and Its Influencing Factors Abstract: After October 23, 2009 GEM board ceremony , the first batch of 28 GEM companies on October 30, 2009 focused on the Shenzhen Stock Exchange , pulled from Chinese GEM prologue. GEM companies is an important part of our national economy , for companies listed on GEM characteristics and specificity , we choose the first 28 GEM companies to explore its capital structure , and thus for the GEM companies seek reasonable capital provide some reference structure . This article first on domestic capital structure theory and literature were reviewed and summarized , and then the various factors that affect the capital structure of a brief analysis , the last of the GEM companies and financial indicators were statistically analyzed . 2010-2012 mid- year financial data on GEM -listed 28 companies reported using descriptive analysis, analyze its capital structure issues , and found : GEM lower our overall enterprise asset -liability ratio . Further studies showed that GEM corporate balance rate and size of the company , the companys growth , asset structure , liquidity was positively correlated negatively related to its profitability . The purpose of the article is to analyze and summarize research companies listed on GEM practical problems exist , and made several recommendations to improve the companys capital structure of the GEM listing and financing environment . I hope through