电力上市公司负债融资对企业绩效的影响

摘要：自从1958年MM理论被提出，资本结构与适度负债问题被广泛关注的热度就一直持续着。为了检验企业资本结构理论，世界各国的学者都进行了大规模的实践检验。目前，国外发达国家的融资结构已较为成熟，但中国的资本市场则滞后很多。所以，这些理论是否与我国上市公司情况相符还不能确定。本文以我国电力上市公司为例，对负债融资影响企业绩效作进一步探究。首先，对研究背景及意义、相关概念及理论基础进行简要阐述；其次，针对我国电力上市公司的负债融资现状进行成因分析；接着，对电力上市公司负债融资对绩效的影响进行实证检验；最后，得出电力上市公司负债融资影响绩效的研究结论并对其提出对策建议。32016
毕业论文关键词：资本结构适度负债负债融资绩效
The Influence of Debt Financing of Electric Power Listing Corporation on Enterprise Performance
Abstract：Since 1958， MM theory，capital structure and moderate debt problem has been widespread concern on the heat continues. In order to verify the theory of capital structure in enterprises，domestic and foreign scholars have conducted a lot of practice. At present，the financing structure in developed countries has been relatively mature but China's capital market is lagging behind a lot. So，whether these theories and the situation of China's listing Corporation is uncertain. In this paper，China's electric power listing Corporation as an example， further study on the impact of debt enterprise performance. First of all， the research background and significance，related concepts and theoretical basis are briefly described; secondly，in view of the present situation of financing in debt of Listed Companies in our country electric power to carry out analysis of the causes; then analysis the power effect of the listed companies in debt financing on the performance. Finally，draw the electric power listed companies in debt financing affects the performance of the conclusions of the study and the proposed countermeasures and suggestions.
Key Words：capital structure， moderate Liability， liability financing， achievements
目　录
一、引言    - 1 -
    （一）研究背景及现实意义    - 1 -
   （二）研究思路及方法    - 1 -
二、相关概念及理论基础    - 2 -
    （一）概念界定    - 2 -
    （二）企业绩效及其衡量标准    - 2 -
    （三）负债融资影响企业绩效的理论    - 3 -
三、电力上市公司的负债融资现状及成因分析    - 5 -
    （一）负债融资现状    - 5 -
    （二）负债融资现状成因分析    - 7 -
四、电力上市公司的负债融资影响绩效的实证分析    - 9 -
    （一）研究假设    - 9 -
    （二）回归分析    - 9 -
五、研究结论及对策建议    - 11 -
    （一）研究结论    - 11 -
    （二）对策与建议    - 11 -
参考文献    - 13 -
附录：本文样本数据    -15-
一、引言
（一）研究背景及现实意义
1.研究背景
资本结构在企业进行融资决策时占有核心地位，它是否合理将直接影响到企业是否能够最终实现企业价值最大化的目标，进而影响一个国家或者地区的发展。市场经济与公司制企业在逐步建立、发展，学术界对于资本结构的研究热度从未间断。为了丰富和发展实践的验证，学者们展开了许多实证研究，可是在最佳资本结构与融资方式选择上仍尚未达成一致意见。电力上市公司负债融资对企业绩效的影响:http://www.youerw.com/kuaiji/lunwen_28405.html