| 行业收益风险、资本结构优化与资本配置效率 |
| |
| 引用本文： | 柳松.行业收益风险、资本结构优化与资本配置效率[J].商业研究,2005(15):159-165. |
| |
| 作者姓名： | 柳松 |
| |
| 作者单位： | 华南农业大学,经济管理学院,广东,广州,510642 |
| |
| 基金项目： | 华南农业大学国家重点学科建设项目“中国农业类上市公司资本结构与融资行为研究”的阶段性成果. |
| |
| 摘 要： | 资本结构的行业特征,一定程度上反映了证券市场的资本风险配置效率。通过对样本行业资本结构状况的统计分析,得出行业的资本结构与其收益风险不匹配;我国证券市场的资本风险配置极度扭曲,处于低效配置状态。究其主要制度根源是公司上市的目的不纯及对公司股权融资的监管政策不合理。
|
| 关 键 词： | 行业资本结构 收益风险 股权融资 配置效率 |
| 文章编号： | 1001-148X（2005）15-0159-06 |
| 收稿时间： | 2004-10-30 |
| 修稿时间： | 2004年10月30 |
Industry Earnings Risk, Capital Structure Optimization and Capital Collocation Efficiency |
| |
| LIU Song.Industry Earnings Risk, Capital Structure Optimization and Capital Collocation Efficiency[J].Commercial Research,2005(15):159-165. |
| |
| Authors: | LIU Song |
| |
| Abstract: | The industrial characteristics of capital structure reflect the collocation efficiency of security market in some degree. Through the statistics analysis of the sample industrial capital structure,the paper draws the following conclusions: industrial capital structure cannot match earnings risk; the collocation of capital risk of security market in China is under extreme distortion and low efficiency;the main institutional reasons are irrational the listed company and unreasonable supervising policy on the company equity financing. |
| |
| Keywords: | industrial capital structure earnings risk equity financing collocation efficiency |
| 本文献已被 维普 万方数据 等数据库收录！ |
