资本结构与财务目标实现程度的相关性分析

本文以现金流量最大化作为企业财务目标的衡量标准,以资产负债率作为资本结构的衡量指标,选取了部分行业的部分上市公司为样本,在确定“最优资本结构区间”的基础上,分别运用单因素方差分析和列联表分析两种统计方法,对企业的资本结构与财务目标实现程度的相关性进行了实证分析,得出了二者显著相关的结论,从而为最优资本结构区间确定方法的科学性提供了经验证据。

A Study on Relativity between Capital Structure and Fulfillment of Financial Target

with the maximization of cash flow as yardstick of enterprise financial target, asset-liability ratio as index of capital structure, some listed company in different industry as samples, using statistic methods including single factor analysis of variance and contingency table analysis, this paper have studied the relativity between capital structure and fulfillment of finance target after confirming the optimum interval of capital structure. And the result shows that they have significant correlation, which may be took as the evidences of rationality of the method determining the optimum capital structure interval.