浅析我国上市公司资本结构的评价模型

The Analysis on the Valuation Model of Capital Structure of Our Country's Listed Companies

最佳资本结构问题一直是财务理论研究中的难点和热点问题,我国上市公司的资本结构大多不合理,而又相对隐秘,尽快建立适合评价我国上市公司资本结构的模型,将有利于我国上市公司更好发展。这里抽象出我国上市公司资本结构形成的四个因素,概括出九个具体的指标,运用主成份分析建立了我国上市公司资本结构评价模型的一个雏形,并给出了一个大概的最佳的资本结构区间。

The issue of optional capital structure is a difficult and popular issue of research in fiance field. However, most of the capital structure of list companies of our country is not excellent and not relatively open. So it is necessary for us to build the valuation model as soon as we can, which would be advantageous for our country's list companies' further development. This article extracts four factors and summarizes nine specific indications, and apply 'principle component analysis' to build a rudimental valuation model of capital structure, and set a approximate scale of optional structure.