房地产上市公司资本结构与盈余质量关系研究

发布时间：2018-04-30 11:31

本文选题：房地产上市公司 + 资本结构　；参考：《青岛科技大学》2014年硕士论文

【摘要】：本文在分析我国房地产上市公司资本结构现状的基础上，结合公司资本结构与盈余质量的理论关系，选取相关指标，，用实证分析的方法研究了房地产上市公司资本结构是否对其盈余质量产生影响，并试图找到二者的相关关系，根据研究结果提出对策建议。首先，对房地产上市公司的资本结构和盈余质量进行了描述性统计，分析房地产上市公司的资本结构和盈余质量的情况，阐述了房地产上市公司存在的财务风险。其次，在实证分析检验方面，作者分别对房地产上市公司的资本结构要素和盈余质量要素各自选取了指标，资本结构指标的选取是选用了被国内外研究所广泛采用的总负债/总资产计算方式的资产负债率；根据对盈余质量的分析选取了相关指标。本文选取在深圳证券交易所发行A股的房地产上市公司作为研究样本，并剔除了已发生财务危机的Pt、St公司，时间跨度为2010至2012年三年的时间。实证检验部分首先对选取的盈余质量指标进行因子分析和检验，得出影响盈余质量的三类要素，并计算出其综合得分。之后以计算出的盈余质量综合得分为被解释变量，以代表资本结构的资产负债率作为影响因素即解释变量，进行回归分析。经实证检验得到资本结构对盈余质量有影响，二者负向相关的结论。最后，本文针对这一结论对我国房地产上市公司如何规范资本结构，提高盈余质量提出了若干对策建议。
[Abstract]:Based on the analysis of the present situation of the capital structure of the listed real estate companies in China and the theoretical relationship between the capital structure of the companies and the quality of earnings, this paper selects the relevant indicators. This paper studies whether the capital structure of listed real estate companies has an impact on their earnings quality with the method of empirical analysis, and tries to find out the correlation between the two, and puts forward some countermeasures and suggestions according to the results of the research. Firstly, the capital structure and earnings quality of real estate listed companies are analyzed, and the financial risks of real estate listed companies are expounded. Secondly, in the aspect of empirical analysis, the author selects the capital structure factors and earnings quality factors of listed real estate companies respectively. The choice of capital structure index is to select the ratio of assets and liabilities which is widely used by domestic and foreign research institutes to calculate total liabilities / total assets, and to select the relevant indexes according to the analysis of earnings quality. In this paper, the real estate listed companies issued in Shenzhen Stock Exchange are selected as the research samples, and the time span from 2010 to 2012 is three years. In the part of empirical test, the factor analysis and test of the selected earnings quality index are carried out, and three kinds of factors affecting earnings quality are obtained, and their comprehensive scores are calculated. Then, taking the calculated earnings quality comprehensive score as the explained variable and the asset-liability ratio representing the capital structure as the influencing factor, the regression analysis is carried out. The empirical results show that the capital structure has an effect on the earnings quality, and the two are negatively related to each other. Finally, this paper puts forward some countermeasures and suggestions on how to standardize the capital structure and improve the earnings quality of the listed real estate companies in China.
【学位授予单位】：青岛科技大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42

【参考文献】