中国电力上市公司资本结构研究

发布时间：2018-04-18 04:01

本文选题：电力行业 + 上市公司　；参考：《辽宁大学》2012年硕士论文

【摘要】：在西方发达资本主义国家，资本结构理论已经发展的相当成熟，这将为本文研究电力上市公司资本结构问题给予理论上的支持。但是，西方国家的资本结构理论建立在发达的商品经济基础上，它是以公司法人治理结构健全、资本市场较为发达、融资渠道方式多样作为前提条件。然而，在中国，，西方国家的资本结构理论缺乏正常发挥作用的基础，基本不具备上述前提条件，西方资本结构理论是不是符合国内的实际情况，还需我们做进一步的验证与研究。目前，国内学者关于资本结构的研究工作，绝大部分以上市公司整体为研究对象，各研究的结论不尽相同，因此我们需要运用多种分析方法并采集相关数据验证与研究本文的观点。此外，在当前国内研究中，我国学者很少采取以电力行业上市公司为研究对象的资本结构研究。考虑到电力行业在国民经济中所处地位的特殊性和重要性，本文在国内外学者研究的基础上，选取沪深两市的电力行业上市公司为研究对象，通过对其资本结构特征的分析及资本结构决定因素、资本结构与公司经营绩效的实证研究，试图总结我国电力行业上市公司资本结构的成因，并探讨最佳资本结构的存在区间，对比资本结构现状提出优化资本结构、改善电力上市公司经营绩效的对策和建议。
[Abstract]:In the western developed capitalist countries, the theory of capital structure has been developed quite mature, which will give theoretical support for the study of the capital structure of the listed power companies in this paper.However, the capital structure theory of the western countries is based on the developed commodity economy. It is based on the sound corporate governance structure, the more developed capital market, and the variety of financing channels.However, in China, the capital structure theory in the western countries lacks the basis for normal functioning, and basically does not meet the above preconditions. Is the western capital structure theory in line with the actual domestic situation?We still need to do further verification and research.At present, most of the domestic scholars' research work on capital structure takes the listed companies as a whole as the research object, and the conclusions of each study are not the same.Therefore, we need to use a variety of analytical methods and collect relevant data to verify and study the point of view of this paper.In addition, in the current domestic research, Chinese scholars seldom take the capital structure research of listed companies in power industry as the research object.Considering the particularity and importance of the electric power industry's position in the national economy, this paper selects the listed companies of the power industry in Shanghai and Shenzhen stock markets as the research objects on the basis of the research by domestic and foreign scholars.Based on the analysis of the capital structure characteristics and the determinants of capital structure, the empirical study of capital structure and corporate performance, this paper attempts to summarize the causes of capital structure of listed companies in power industry of our country, and to discuss the existence interval of the best capital structure.Compared with the present situation of capital structure, the paper puts forward the countermeasures and suggestions to optimize the capital structure and improve the operating performance of power listed companies.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51;F426.61;F224

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