民营企业融资结构与资本结构特征分析:以河北为例

Analyzing the Feature of Financing and Capital Structure of Hebei Private Enterprises

以河北省乡镇企业为对象研究了民营企业融资结构及资本结构的演变特征。研究结果表明,河北省民营企业的融资结构表现为以股权融资占主导的外源融资和以保留盈余为主的内源融资的特征;同时,由于乡镇企业日益寻求多元化的融资方式来获取资金,致使其资本结构特征表现为资产负债率的不断下降。

Taking township - village enterprises in Hebei as object, this paper studies the financing structure and capital structure of Hebei private enterprises. The results reveal that the feature of financing structure of Hebei private enterprises is exterior finance and interior finance, the former is dominated by entity finance, and the later is dominated by retaining surplus. The capital structure is characterized by declining of asset - liability ratio because enterprises use various financing way to find capital.