上市公司资本结构影响因素分析

Research on Influencing Factor of the Capital Structure of Listed Companies

分析上市公司资本结构的影响因素,对确定上市公司的合适资本结构有重要参考意义。利用截面数据运用多元回归分析法,通过对我国交通运输、仓储业上市公司资本结构的影响因素定量分析,认为公司规模、成长能力与资产负债率显著正相关,短期偿债能力、资产担保比率、内部资源能力和盈余管理能力与资产负债率显著负相关。

Analyzing the influencing factor of capital structure of listed companies has important significance on making sure right capital structure of listed companies.The paper attempts to do multiple regression analysis of the capital structure of transportation and warehousing industries listed companies using cross-section data.The result show：the size of company and the capacity for growth are positive correlated to assets liabilities ratio,and short-term solvency,secured assets ratio,capacity to generate internal resources and management of surplus capacity are negative correlated to assets liabilities ratio.