| 中国上市公司资本结构趋势研究 |
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| 引用本文： | 孙青霞.中国上市公司资本结构趋势研究[J].经济问题,2011(8). |
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| 作者姓名： | 孙青霞 |
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| 作者单位： | 天津财经大学商学院; |
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| 基金项目： | 国家自然科学基金“中国上市公司融资行为异化与治理研究”(70940010); 天津财经大学科研发展基金项目(Y0905) |
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| 摘 要： | 分行业分析了中国A股上市公司1990~2009年资本结构的变化。结果表明:中国A股上市公司资产负债率的行业均值呈递增趋势;不同行业上市公司的资产负债率具有显著差异,资产负债率高(45%~70%)的行业为建筑业、房地产业、批发和零售贸易业、制造业,资产负债率低(22%~45%)的行业为采掘业、交通运输仓储业、社会服务业;新上市公司的资产负债率水平较高,以后年度相对降低,这说明上市公司具有较强的股权融资偏好。最后分析了这一现象产生的原因并提出建议。
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| 关 键 词： | 资本结构 资产负债率 平均趋势 |
Research on Trend of Capital Structure of China A-share Listed Company's |
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| SUN Qing-xia.Research on Trend of Capital Structure of China A-share Listed Company's[J].On Economic Problems,2011(8). |
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| Authors: | SUN Qing-xia |
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| Institution: | SUN Qing-xia(School of Business,Tianjin University of Finance and Economics,Tianjin 300222,China) |
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| Abstract: | This paper analyzes the changes of capital structure in China A-share listed company's 1990~2009 by industry.The industry average capital structure of Chinese A-share listed companies was increasing trend.There was a significant difference about different industries capital structure of listed companies.The industries of high asset-liability ratio are: construction,real estate,wholesale and retail trade,and manufacturing(45%~70%).The industries of low asset-liability ratio are extractive industries,transpor... |
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| Keywords: | capital structure asset-liability ratio average trend |
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