我国林业行业资本结构优化研究

以我国林业行业的上市企业为对象,运用多元回归分析法,实证研究了林业企业的盈利能力、抵押能力、非债务税盾、有形资产、现金流量、股权结构、税收、资产流动性、企业规模、行业特征和企业成长性等11个因素与资本结构之间的关系,发现了有形资产、企业规模和资产流动性是影响林业行业资本结构的主要因素,同时,通过对林业行业资本结构的进一步优化研究,得到了林业行业资本结构的优化值。

The Research on Optimal Capital Structure of Forestry Industry

Presents the study of the relationship between the capital structure of forestry industry and 11 factors by using the multiple regression analysis method.The 11 factors contains the profitability,mortgage ability,debt tax shield,tangible assets,cash flow,equity structures,taxation,assets turnover,company scale,industry characteristics and company growth.The result shows that the tangible assets,company scale and assets turnover are the significant factors influencing the capital structure of forestry industry.And also figures out that the optimized value of the capital structure of forestry industry.