【正文】 其資產負債率、資本負債率、股東權益比率等指標進行研究，并與其行業(yè)中的佼佼者進行比較，分析發(fā)現黃山旅游的資產負債率偏低、股權過度融資、負債結構不合理等一些問題。文章最后對黃山旅游企業(yè)的資本結構完善提出建議。 關鍵詞：資本結構 黃山旅游 資產負債率 黃山旅游企業(yè)的資本結構分析 III Analysis on the capital structure of Mount Huangshan tourism enterprises Abstract Along with the rapid development of social economy, the market petition is increasingly fierce, and the capital structure is the concentrated reflection of the rights and obligations of stakeholders in the pany, affects the condition and value of the pany. The choice of capital structure is a key to make the enterprise how to survive in the petition, the choice of capital structure for and directly affects the efficiency of enterprises, are more likely to affect the fate of the enterprise. The tourism industry as tourism as a new economic mode in the tertiary industry, on the capital structure of analysis to help enterprises to better business development. Based on Huangshan Tourism Enterprises as an example, rate of assets and liabilities, debt to equity ratio, equity ratio and index of, and pare the leader in its industry. The analysis shows that the Huangshan Tourism assets and liabilities rate is low, excessive equity financing, debt structure is irrational and so on a number of issues. Finally, the paper puts forward some suggestions on the improvement of the capital structure of Mount Huangshan tourism enterprises. Key Words： Capital structure， Mount Huangshan tourism， assetliability ratio 黃山旅游企業(yè)的資本結構分析 IV 目 錄 引 言 .................................................................................................................................... 1 1 緒論 ........................................................................................................................................ 2 研究背景和意義 .......................................................................................................... 2 課題背景 ............................................................................................................. 2 研究意義 ............................................................................................................. 2 研究現狀 ...................................................................................................................... 2 思路方法 ...................................................................................................................... 3 2 企業(yè)資本結構相關理論概述 ................................................................................................ 4 企業(yè)資本結構的內容 .................................................................................................. 4 企業(yè)資本結構的概念 ......................................................................................... 4 企業(yè)資本結構的理論發(fā)展 ................................................................................. 4 企業(yè)資本結構的基本特征 .......................................................................................... 5 企業(yè)資本結構模式的重要性 ...................................................................................... 5 影響上市公司資本結構的因素 .................................................................................. 5 3 黃山旅游企業(yè)資本結構的現狀及存在的問題 ..................................................................... 7 黃山旅游企業(yè)簡介 ...................................................................................................... 7 黃山旅游企業(yè)資本結構現狀 ...................................................................................... 7 資產負債率 ......................................................................................................... 8 資本負債率 ......................................................................................................... 8 長期負債率 ......................................................................................................... 9 股東權益比率 ..................................................................................................... 9 財務狀況分析 ................................................................................................... 10 盈利能力 ........................................................................................................... 10 現金凈流量比率 ................................................................................................11 黃山旅游企業(yè)資本結構