我国上市公司资本结构优化研究——以云南城投为例

Research on the Optimization of Capital Structure of Listed Companies in China

企业的偿债能力及再融资水平的高低在一定程度上均会受到资本结构的影响,且其会影响企业未来的盈利能力水平。同时,它还影响着企业的治理结构和经营业绩。云南城投处于房地产行业中较为领先的位置,本文选取了其2016—2020年上半年的部分数据对云南城投的资本结构进行分析并结合该公司的资本结构现状相应地提出一些优化建议与意见,以期能够对我国的上市房地产公司有所启示。

The solvency and refinancing level of an enterprise will be affected by the capital structure to a certain extent,and it will affect the future profitability of the enterprise.At the same time,it also affects the corporate governance structure and business performance.Yunnan urban investment is in a leading position in the real estate industry.This paper selects part of its data from 2016 to the first half of 2020 to analyze the capital structure of Yunnan Urban Investment,and puts forward some optimization suggestions and opinions according to the current situation of the company’s capital structure,so as to give some Enlightenment to the listed real estate companies in China.