电力行业上市公司资本结构分析

<title>pital structure analysis of listed company of power industry

电力行业的发展需要各种渠道的资金投入,资本结构的决策不仅影响电力行业上市公司的资金成本和市场价值,而且与企业的财务风险和未来可持续发展密切相关。文中从现代资本结构理论出发,结合1999-2003年50家电力行业上市公司对外披露的财务数据,分析电力行业上市公司资本结构的状况。基本结论是:电力行业上市公司的资本结构决策比较保守,同时融资顺序有待优化。

<abstract>rious kinds of channels of fund input are needed for the development of power industry. Decision of the capital structure influences not only the fund cost and market value of the listed company of power industry, but also closely related to the financial risks and future sustainable development of enterprises. This paper analyzes the state of the capital structure of listed company in power industry by proceeding from structure theory of the modern capital and combining the financial data which the 50 listed companies in power industries revealed to the outside from 1999 to 2003. The basic conclusion is that decision making on capital structure of listed company in power industry is rather conservative, and the order of finance is under optimization at the same time.