石家庄市民营上市公司资本结构研究

A Research on the Capital Structure of Private Listed Companies in Shijiazhuang City

资本结构是企业融资决策的重要内容,与企业价值最大化有着密切的联系。以石家庄市民营上市公司2018—2020年财务报表数据为基础,运用定量分析方法从资产负债率、负债结构、所有者权益结构以及股权集中度4个角度对企业资本结构进行动态和静态分析,发现石家庄市民营上市公司主要存在资产负债率水平较低、负债结构不合理和股权集中度高等问题,从企业自我完善、改善融资环境和政府助力3个角度提出了相应对策。

Based on the financial statement data of private listed companies in Shijiazhuang from 2018 to 2020,the paper makes a dynamic and static analysis of the capital structure of the enterprises in terms of the asset-liability ratio,the liability structure,the owner’s equity structure and the ownership concentration.The result reveals such problems as the low asset-liability ratio,the unreasonable liability structure and the high ownership concentration.Suggestions are made from the perspectives of the self-perfection of the enterprise,the improvement of the financing environment,and the government support.