摘要
为了研究债务融资对公司绩效的影响,运用主成分分析法构建了债务融资效应的主成分预测模型,利用该模型对我国710家上市公司2008、2009年财务数据按资产负债率的大小划分区间进行实证研究。实证结果表明,上市公司债务融资比重的多少并不像通常想象的那样与公司治理绩效成简单的线性关系,而是在不同的资产负债率区间表现为不同的相关性。
To study the influence of debt financing on company＇s performance, this paper constructs the principal component predicting model of debt financing through principal component analysis, then conducts an empirical study of 710 listed companies in China whose financial data in the year 2008 and 2009 is demarcated by the asset-liability ratio. The empirical results show that the proportion of debt financing of listed company is not as commonly assumed, having a simple linear relationship with the corporate governance performance, but at different rates of assets- liability ratio it showed a different range of correlation.
出处
《长春理工大学学报（社会科学版）》
2010年第4期80-83,93,共5页
Journal of Changchun University of Science and Technology（Social Sciences Edition）
关键词
上市公司债务融资
治理效应
主成分分析
debt financing of listed company
governance effect
principal component analysis
