山东省小型国有企业资本结构影响因素实证分析

Substantial Evidence Analysis of the Influencing Factors of Small-scale State-owned Enterprises' Capital Structure in Shandong Province

利用单因素方差分析和多元逐步回归法分析小型国有企业资本结构影响因素,弥补了以往学者对非上市小型企业资本结构影响因素实证研究的不足.通过对假设进行检验,本文得到结论:企业组织形式对资本结构产生显著性影响;盈利能力与总资产负债率,流动负债率负相关;成长性与流动负债率正相关,与长期负债率负相关;担保价值与长期负债率正相关,与流动负债率负相关.

Using single factor analysis of variance and multivariate stepwise regression to analyze the capital structure influencing factor of small - scaled state - owned enterprises, this paper fills up the deficiency of substantial evidence study of non - listed small companies. After examining the assumption, this paper comes to the conclusion ： Enterprises＇ organi- zational form has a remarkable impact on capital structure;the ability of profit is correlated negatively with the leverage of total assets and the leverage of current assets ; growth is correlated positively with the leverage of current assets, and is correlated negatively with the secular leverage ; collateral value is correlated positively with the secular leverage, and is correlated negatively with the leverage of currenl assets.