资本结构选择的影响因素——基于地区综合发展水平差异性的实证研究

论文通过因子分析法研究地区差异性是否会造成资本结构影响因素存在大小和方向上的不同。研究结果表明盈利能力对东部、中部和西部地区上市公司的影响方向一致，而成长性因子、资产运营能力因子、企业规模因子、偿债能力因子、资产担保价值因子对各地区上市公司资本结构的影响大小和影响方向存在差异，并且这种差异性具有明显的地区特征。

Empirical Study on Determinants of Capital Structure Choice:Based on the Regional Difference of Comprehensive Development Level

By using factor analysis, this paper discussed if the regional differences will lead to difference in size and direction of factors affecting capital structure. The results show that profitability has the same impact direction on the listed companies in eastern, central and western regions, and growth factors, asset management capability factor, firm size factor, solvency factors, collateral value of assets factor have different directions and size of the effect of capital structure of listed companies in e...