农业上市公司资本结构对经营绩效影响研究

发布时间：2018-04-01 23:15

本文选题：农业上市公司　切入点：资本结构　出处：《浙江农林大学》2017年硕士论文

【摘要】：农业是我国国民经济的基础,农业上市公司是我国农业先进生产力的代表。研究中国的上市农业企业的问题,以促进当前农业上市企业的发展,促进当前农业产业的发展具有积极的意义。公司的资本结构是利益相关者权利义务的集中体现,对公司的绩效和市场价值有着重要的影响。为此,本文以广义资本结构为切入点,揭示了资本结构在中国农业上市公司中与企业绩效之间的关系。找到制约中国农业上市公司资本结构的因素,提高性能,并提出了优化农业类上市公司资本结构的对策,对中国农业上市公司的健康发展提供相关参考。本文首先对农业上市公司绩效与资本结构的相关文献进行了梳理,以建立一个在中国农业上市公司经营绩效评价的相关因子分析模型,计算了农业上市公司经营绩效的综合得分,并在此基础上构建了农业上市公司的多元回归模型,以揭示其资本结构与经营绩效的关系,得出以下研究结论:农业上市公司的第一大股东持股比例对于公司经营绩效有显著的负影响。农业上市公司的前五大股东持股比例对公司经营绩效有显著的正影响。农业上市公司的国有持股比例对公司的经营绩效有显著的负影响。目前农业上市公司的负债率对公司的经营绩效有显著的负影响。同时,在该基础上,提出了如下相关对策建议:适度地提高股权集中度、适度地降低国有股比重、适度地提高长期负债比率、适当地降低流动负债比例。
[Abstract]:Agriculture is the foundation of our national economy, and agricultural listed companies are the representatives of China's advanced agricultural productive forces. Promoting the development of the current agricultural industry is of positive significance. The capital structure of the company is a concentrated embodiment of the rights and obligations of the stakeholders and has an important impact on the performance and market value of the company. Based on the generalized capital structure, this paper reveals the relationship between capital structure and enterprise performance in China's agricultural listed companies, finds out the factors that restrict the capital structure of Chinese agricultural listed companies, and improves their performance. The paper also puts forward the countermeasures of optimizing the capital structure of agricultural listed companies, and provides relevant references for the healthy development of agricultural listed companies in China. Firstly, this paper combs the relevant literature on the performance and capital structure of agricultural listed companies. Based on the establishment of a relevant factor analysis model for the performance evaluation of agricultural listed companies in China, this paper calculates the comprehensive scores of the performance of agricultural listed companies, and on this basis, constructs a multivariate regression model of agricultural listed companies. To reveal the relationship between its capital structure and operating performance, The following conclusions are drawn: the proportion of the largest shareholders in agricultural listed companies has a significant negative impact on the company's operating performance. The first five major shareholders of agricultural listed companies have a significant positive effect on the company's operating performance. At present, the debt ratio of agricultural listed companies has a significant negative impact on their operating performance. At the same time, On this basis, the following countermeasures are put forward: to increase the concentration of equity, to reduce the proportion of state-owned shares, to increase the ratio of long-term liabilities, and to reduce the proportion of current liabilities.
【学位授予单位】：浙江农林大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F324;F302.6

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