创业板上市公司融资结构的影响因素分析

Influencing Factors on Financing Structure of GEM Listed Companies

本文以我国创业板上市公司2009～2011年的数据为样本，考察我国创业板上市公司融资结构的内部影响因素，通过因子分析和多元回归分析，发现内部影响因素主要为企业偿债能力。创业板上市公司应该根据影响因素，调整融资结构，降低融资成本，实现融资结构的优化。

Based on the samples data of GEM listed companies in 2009 to 2011, this paper examined the internal factors of the financing structure of companies listed on GEM. By the factor analysis and multiple regression analysis, the results showed that the corporate solvency was main influencing factors. Based on the impact factors , GEM listed companies should adjust the financing structure and reduce financing costs to achieve the optimization of the financing structure.