石油石化上市公司资本结构影响因素的实证研究

发布时间：2018-01-22 11:27

本文关键词： 石油石化上市公司资本结构影响因素　出处：《东北石油大学》2013年硕士论文　论文类型：学位论文

【摘要】：石油石化产业是国家基础性、战略性的支柱产业，对促进国家经济发展、维护社会稳定、保证国家安全和提高国家综合竞争力有着重要的战略意义。通过对石油石化上市公司的资本结构特征进行分析，以及对影响石油石化企业资本结构的因素与有关理论相结合，进行实证研究，得出相应的研究结果，最后根据实证结果提出相应的对策和建议。同时也为石油石化上市公司资本结构的优化提供参考，进而达到促进我国经济增长的目的。文章首先介绍了资本结构的基本理论,为后续研究奠定理论基础。随后介绍了石油石化上市公司资本结构的现状,总结我国石油石化公司基本发展情况和资本结构特点，即资产负债率水平偏高，负债结构不合理，股权集中度高并且流动性逐年提高。随后定理论基础。 2010-2012年的数据作为样本，采用因子分析方法和多元逐步回归法进行实证研究；在宏观2001-2010年的数据作为样本，采用强行进入多元回归的方法进行实证研究。实证结果表明通货膨胀率与资产负债率呈正相关关系；GDP增长率与资产负债率呈负相关关系。最后,依据本研究实证分析结果有针对性地提出优化我国石油石化上市公司资本结构的建议与对策,以期为公司管理层提供有益的参考和借鉴。
[Abstract]:Petroleum and petrochemical industry is the country's basic strategic pillar industry to promote national economic development and maintain social stability. It is of great strategic significance to ensure national security and improve the comprehensive competitiveness of the country. This paper analyzes the capital structure characteristics of the listed companies in petroleum and petrochemical industry. And the factors that affect the capital structure of petroleum and petrochemical enterprises are combined with relevant theories, and the corresponding research results are obtained. Finally, according to the empirical results, the corresponding countermeasures and suggestions are put forward. At the same time, it also provides a reference for the optimization of the capital structure of the petroleum and petrochemical listed companies, and then achieves the purpose of promoting the economic growth of our country. Firstly, the paper introduces the basic theory of capital structure, which lays a theoretical foundation for further research. Then it introduces the present situation of capital structure of listed companies in petroleum and petrochemical industry. This paper summarizes the basic development and capital structure characteristics of petroleum and petrochemical companies in China, that is, the level of asset-liability ratio is on the high side, the debt structure is unreasonable, the ownership concentration is high and the liquidity is increasing year by year. The data from 2010 to 2012 are used as samples, using factor analysis method and multiple stepwise regression method to carry out empirical research. In the macro-2001-2010 data as a sample, forced into the multiple regression method for empirical research. The empirical results show that the inflation rate and asset-liability ratio positive correlation; There is a negative correlation between the growth rate of GDP and the ratio of assets and liabilities. Finally, according to the empirical results of this study, some suggestions and countermeasures are put forward to optimize the capital structure of the listed companies of petroleum and petrochemical industry in China. In order to provide useful reference and reference for the management of the company.
【学位授予单位】：东北石油大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.722

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