上市公司资本结构合理性的分析

文章以统计数据从制度层面对我国上市公司资本结构的合理性进行了初步论述,指出中国上市公司的资本结构及其变化没有凸显公司的价值,其合理性存在置疑,这对传统资本结构理论形成了一个挑战,这种状况形成的深层次原因在于股权分置的特殊制度背景导致上市公司控制人的行为非理性化。

Analysis on the capital structure rationality of listed company

This article carries on the preliminary elaboration on the capital structure rationality of listed company by the statistical data from the system stratification plane,thinks chinese listed company capital structure and its change haven’t revealed company value, its rationality exists doubts.This forms one challenge to the traditional capital structural theory, the deep level reason of this kind of condition lies that the special system background of the stockholder's rights setting causes the listed company controls person's behavior non-rationalization.