中国纺织业上市公司资本结构影响因素的实证研究

Empirical study on influencing factors of capital structure of Chinese textile industry listed company

为了验证资本结构及其影响因素之间的关系,以中国纺织业上市公司作为研究对象,运用SPSS19.0软件中的相关性分析和曲线估计对资本结构的影响因素进行了实证研究.结果表明:只有资产担保价值与资本结构相关性显著,其他因素与资本结构的相关性不显著;资产担保价值和公司规模与资本结构正相关,盈利能力、成长性和非负债税盾与资本结构负相关.研究得出了中国纺织业上市公司资本结构与资产担保价值的回归模型,提出可通过提高资产担保价值来优化资本结构.

In order to verify the relationship between the capital structure and its influence factors,the listed textile companies in China are taken as the real diagnosis object to study the factors of capital structure by correlative analysis and curve estimation of SPSS19.0.The result shows that the relationship between capital structure and asset collateral value is significantly related,while other factors are not significantly related with capital structure,which asset collateral value and capital structure are positive related,and grofitability,growth,non-debt tax are negative correlated with capital structure.The regression model reflects the relationship between asset collateral value and capital structure of listed textile companies in China.It provides an evidence for optimizing capital structure by improving asset collateral value.