國內(nèi)上市公司資本結(jié)構(gòu)影響因素研究——以信息和石油化工行業(yè)為例.pdf

1、中國石油大學(xué)（華東）碩士學(xué)位論文國內(nèi)上市公司資本結(jié)構(gòu)影響因素研究——以信息和石油化工行業(yè)為例姓名：孫永輝申請學(xué)位級別：碩士專業(yè)：項目管理指導(dǎo)教師：魏振香王素雙20090501EmpiricalStudyontheinfluentialFactorfortheCapitalStructureoftheChineseListedCompanyTakeinformationandpetrochemicalindustryasexampleSu

2、nYonghuiDirectedbyProfWeiZhenxiangAbstractCapitalstructurethatisacentralizedreflectionofshareholdersrightsandobligations，determinesthemanagingstructureofcorporations，andfurtherinfluencesontheirbehaviorcharactersandvalue，

3、thereforecapitalstructureis“genes“ofthemodemcorporations，RationalcapitalstructureisinfavorofimprovingthebehaviorandvalueofcorporationsThroughthestudyoncharactersofthecapitalStructureoflistedcompaniesofourcountrytheresear

4、chfindsthatthelistedcompaniesofourcountryhavethefollowingproblems：thestructureindebtisunreasonable；thecompaniespreferstockfmancingtodebtfinancing；stocksofnotcirculationaccountforthemajorityInviewoftheseissues，thefactorsi

5、nfluencingcapitalstructureoflistedcompanywassystematicallystudiedTheaimisachievingatthegeneralconclusiononthemainlyinfluentialfactorandasguidancetocompanies’optimizingcapitalstructureUsingasampleoflistedcompanies，ourtest

6、provesthosefactorsinmultipleregressioncorrelationanalysis，WefoundempiricalevidenceshowingthefinancialsituationplaysacrucialroleinfinancingdecisionAtlastthereasonsofthatarefound：thefinancingcostofstocksfinancingislowertha

7、nthatofdebtfinancing；thestockstructureisspecialinthelistedcompanyofourcountry；thestockmarketisnotinbalance；themanagestructureofthelistedcompanyisnotPerfectThethesissuggeststoimprovetheunreasonableconditionsofcorporationc