基于DEA的农业上市公司资本结构改进研究

发布时间：2018-03-08 05:21

本文选题：资本结构　切入点：农业上市公司　出处：《南京农业大学》2013年硕士论文　论文类型：学位论文

【摘要】：农业上市公司是农业企业较为先进的企业组织形式,是我国农业产业现代化的主要途径。通过上市公司这种企业组织形式,农业生产资源被有效地整合起来,充分发挥生产优势。我国农业上市公司的资本结构有可改进之处,改变不合理的资本结构,才能改变中国农业上市公司的治理结构,进一步改变企业的绩效。这是本研究课题的意义所在。通过对国内外文献的综述,归纳得出现有的研究成果及不足。根据现有研究,中国农业上市公司的资产负债率偏低、负债结构不是太合理、非流动负债比率低、内部融资比例小、股权结构也不尽合理。本文研究中的部分结论也印证了以上研究结论。在知识经济时代,科技与人才因素对经济发展的影响日益突出。人力资本对于促进中国农业上市公司的健康发展至关重要。因此,传统的资本结构理论不能适应时代发展的要求。研究中国农业上市公司资本结构问题必然要考虑到人力资本相关因素的影响。研究中论述了资本结构的概念,探讨了考虑人力资本的资本结构理论。对农业上市公司进行较清晰的界定,在此基础上分析农业上市公司资本结构的基本特征。利用数据包络分析方法,通过实证研究,分析影响我国农业上市公司效率的资本结构因素。研究表明,数据包络分析方法可以从资本投入产出效率角度很好的分析农业上市公司的资本结构问题。根据模型计算结果,充分利用规模收益指标、松弛变量指标来解释农业上市公司资本结构存在的问题。对于出现冗余的资本指标,适当降低其在总资本中的比例,以优化资本结构。在前面分析的基础上给出样本中每一家农业上市公司资本结构改进的具体措施。
[Abstract]:The agricultural listed company is the advanced enterprise organization form of the agricultural enterprise, is the main way of the agricultural industry modernization of our country. Through the listed company this enterprise organization form, the agricultural production resources are effectively integrated. The capital structure of the agricultural listed companies in China can be improved by changing the unreasonable capital structure in order to change the governance structure of the agricultural listed companies in China. Further change the performance of enterprises. This is the significance of this study. Through the review of domestic and foreign literature, the present research results and shortcomings are summarized. According to the existing research, the asset-liability ratio of Chinese agricultural listed companies is on the low side, the debt structure is not too reasonable, and the non-current debt ratio is low. The proportion of internal financing is small, and the equity structure is not reasonable. Some conclusions in this paper also confirm the above conclusions. In the era of knowledge economy, The impact of science, technology and talent on economic development is increasingly prominent. Human capital is essential to promote the healthy development of listed agricultural companies in China. The traditional capital structure theory can not meet the requirements of the development of the times. The study of the capital structure of agricultural listed companies in China must take into account the influence of human capital related factors. In the study, the concept of capital structure is discussed, and the theory of capital structure considering human capital is discussed. On this basis, the basic characteristics of the capital structure of agricultural listed companies are analyzed. By using the method of data envelopment analysis, the factors affecting the efficiency of agricultural listed companies in China are analyzed through empirical research. Data envelopment analysis method can be used to analyze the capital structure of agricultural listed companies from the perspective of capital input-output efficiency. According to the results of the model, the paper makes full use of the scale income index and the relaxation variable index to explain the problems existing in the capital structure of agricultural listed companies. For the redundant capital index, the proportion of the capital index in the total capital should be reduced appropriately. In order to optimize the capital structure, on the basis of the previous analysis, the paper gives the concrete measures to improve the capital structure of each agricultural listed company in the sample.
【学位授予单位】：南京农业大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F324;F832.51

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