旅游上市公司增长机会与资本结构关系实证研究

Growth Opportunity and Capital Structure: Empirical Evidence from China' s Listed Tourist Companies

运用SPSS和EVIEWS5.0,对旅游行业上市公司2001-2004年数据,选择面板数据固定效应模型,实证检验旅游行业上市公司增长机会与资本结构之间的关系。分析结果表明旅游上市公司增长机会的投资主要来源于负债融资,增长机会与资本结构正相关。

Using the data of Chinese listed tourist companies during 2001-2004, based on fixed effect model in panel data, an empirical study on the relationship between growth opportunity and capital structure has been carried out in this paper by using EVIEWSS. 0. The result shows that principal financing on growth opportunity comes from debt financing in listed tourist companies, and the positive relationship between growth opportunity and capital structure is verified.