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企业的资本结构是现代公司治理研究的核心问题。航空上市公司作为资本密集型企业,其资本结构与融资方式一直是人们重点研究的对象。本文采用实证研究的方法,对我国航空上市公司资本结构的影响因素进行了分析,实证结果表明:资本结构中的负债比率与盈利能力、企业规模、内部资源能力成负相关关系,与成长性、经营风险、偿债能力、非债务税盾、股权集中度成正相关关系。
The capital structure of a firm is the core issue of modern corporate governance research. Aviation listed companies as capital-intensive enterprises, the capital structure and financing has been the focus of research. Empirical results show that: the debt ratio in the capital structure is negatively correlated with the profitability, the size of the enterprise and the internal resource capacity, and the growth, Business risk, solvency, non-debt tax shield, ownership concentration is a positive correlation.