电力行业资本结构实证研究

Pragmatic Study on the Capital Structure of the Electric Power Industry

随着国民经济的不断发展,电力行业在经济中的地位更加突出,作用也更大。作为国家支柱产业,电力的改革也备受世人瞩目。而要想打破电力行业的垄断地位,引入新的竞争主体,提高效率和服务质量,关键是要改善法人治理结构。而其又由资本结构所决定。因此,本文以上市的38家电力公司为样本,运用统计分析中的多元线性回归方法,分析影响电力行业资本结构的财务因素,并在此基础上,结合当前电力改革的方向,对电力公司的治理给出一些建议。

With the growing development of the national economy, the electric power industry plays an increasing role in our economy. Meanwhile, its reformation is also attached great importance by people. In order to break up its monopolistic position, introduce new competitive units, and enhance its efficiency as well as its service quality, the key factor is to improve its governance structure, which depends on its capital structure. This article takes 38 listed companies of the electric power industry as the research sample, and makes pragmatic study on some financial factors which affect its capital structure. In addition, combined such analysis with its present reformation orientation, the author gives some suggestions on its governance of corporation.