我国纺织服装上市公司资本结构分析与优化

An Analysis on the Capital Structure of Listed Textile & Apparel Companies in China

通过对深沪两市的50家纺织服装上市公司近3年(2010—2012年)的资本结构进行分析,发现大多数上市公司都存在资产负债率水平偏低、债券融资水平偏低、流动负债占负债总额比率偏大、高库存等不良状况。文章从我国证券市场的发展程度,企业融资、自主品牌建设等角度分析了这些问题的成因,提出了相应的优化策略,并对如何使企业在动态发展中保持良好的资本结构提出了建议。

By analyzing the capital structure of 50 textile & apparel listed companies on Shenzhen and Shanghai security markets in the past three years (2010-2012), the authors found that most of these companies operated in poor status due to low asset-liability ratio, low debt-financing level, high ratio of current liabilities to total liabilities and high inventory. The article analyzed the causes of these problems from the perspectives of development stage of China’s security markets, financing of enterprises and construction of independent brands, put forward relevant measures for optimizing capital structure and gave suggestions on how to maintain a favorable capital structure during the dynamic development of enterprise.