【正文】
內(nèi)部因素 6 公司規(guī)模 6 盈利能力 6 公司成長性 6 資產(chǎn)結(jié)構(gòu) 6 資產(chǎn)流動性 64 實證分析 7 樣本指標選取 7 樣本選取 7 指標選取 7 指標分析 8 資本結(jié)構(gòu)總體特征分析 8 資本結(jié)構(gòu)與盈利能力關系分析 9 資本結(jié)構(gòu)與公司規(guī)模關系分析 10 資本結(jié)構(gòu)與公司成長性關系分析 11 資本結(jié)構(gòu)與資產(chǎn)結(jié)構(gòu)關系分析 12 資本結(jié)構(gòu)與資產(chǎn)流動性關系分析 12 本章小結(jié) 135 結(jié)論及建議 14 結(jié)論 14 建議 14致謝 15參考文獻 16II1 緒論 研究背景及意義創(chuàng)業(yè)板指交易所主板市場以外的另一個證券市場,其主要目的是為新興公司提供集資途徑,助其發(fā)展和擴展業(yè)務。s capital structure of the GEM listing and financing environment . I hope through this study , to seek reasonable capital structure for the pany listed on GEM .Keywords: GEMlisted panies。s Capital Structure and Its Influencing FactorsAbstract: After October 23, 2009 GEM board ceremony , the first batch of 28 GEM panies on October 30, 2009 focused on the Shenzhen Stock Exchange , pulled from Chinese GEM prologue. GEM panies is an important part of our national economy , for panies listed on GEM characteristics and specificity , we choose the first 28 GEM panies to explore its capital structure , and thus for the GEM panies seek reasonable capital provide some reference structure . This article first on domestic capital structure theory and literature were reviewed and summarized , and then the various factors that affect the capital structure of a brief analysis , the last of the GEM panies and financial indicators were statistically analyzed . 20102012 mid year financial data on GEM listed 28 panies reported using descriptive analysis, analyze its capital structure issues , and found : GEM lower our overall enterprise asset liability ratio . Further studies showed that GEM corporate balance rate and size of the pany , the pany39。希望通過本文的研究,能為創(chuàng)業(yè)板上市公司尋求合理的資本結(jié)構(gòu)。進一步研究表明,創(chuàng)業(yè)板企業(yè)資產(chǎn)負債率與公司成長性,資產(chǎn)結(jié)構(gòu),公司規(guī)模,資產(chǎn)流動性呈正相關關系,與其盈利能力負相關。本文先對國內(nèi)外關于資本結(jié)構(gòu)的理論和文獻進行了簡單的回顧和綜述,緊接著簡要對資本結(jié)構(gòu)的影響因素進行了分析,最后對創(chuàng)業(yè)板企業(yè)各項財務指標進行了統(tǒng)計和分析。創(chuàng)業(yè)板上市公司資本結(jié)構(gòu)及其影響因素分析摘 要:2009年10月23日創(chuàng)業(yè)板開板儀式后,首批28家創(chuàng)業(yè)板公司于2009年10月30日集中在深證證券交易所上市,從此拉開了中國創(chuàng)業(yè)板的序幕。創(chuàng)業(yè)板企業(yè)是我國國民經(jīng)濟的重要組成部分,針對創(chuàng)業(yè)板上市公司的特點和特殊性,本文選擇在創(chuàng)業(yè)板上市首批28家公司探討其資本結(jié)構(gòu),進而為創(chuàng)業(yè)板上市公司在尋求合理的資本結(jié)構(gòu)方面提供一些參考。以20102012年年在創(chuàng)業(yè)板上市的28家公司公布的年度財務數(shù)據(jù),采用描述性分析法,對其資本結(jié)構(gòu)問題進行了分析,通過相關數(shù)據(jù)研究發(fā)現(xiàn):我國創(chuàng)業(yè)板企業(yè)總體的資產(chǎn)負債率較低。文章研究的目的在于分析總結(jié)創(chuàng)業(yè)板上市公司存在的現(xiàn)實問題,并提出了幾點改善我國創(chuàng)業(yè)板上市公司資本結(jié)構(gòu)和融資環(huán)境的建議。關鍵詞:創(chuàng)業(yè)板上市公司; 資本結(jié)構(gòu); 資產(chǎn)負債率The Analysis of GEMlisted Company39。s growth , asset structure , liquidity was positively correlated negatively related to its profitability . The purpose of the article is to analyze and summarize research panies listed on G