摘要
通过利用面板数据模型对我国煤炭行业上市公司资本结构的影响因素进行实证分析,研究发现,煤炭类上市公司的资本结构与公司的规模、抵押担保品价值正相关,但后者的相关性较弱,与内源融资能力和产品的独特性负相关,研究还发现,拓宽融资渠道,改善债务融资结构、适度提高债务融资比率、加大财务杠杆作用对煤炭行业公司的发展有积极作用。
In this paper , using the panel data model to conduct an empirical analysis of influencing factors of the capital structure of listed companies of coal industry in China. The study found that the coal listed companies＇capital structure and the size of the companies , the value of collateral is positively related , but the relevance of the latter is weaker , and endogenous financing capacity , the uniqueness of products is negatively related . The research also found that broadening financing channels , improving the debt structure , an appropriate increase in the debt financing ratio , increasing financial leverage has a positive effect on development of the coal industry companies.
出处
《贵州商业高等专科学校学报》
2012年第1期37-40,共4页
Journal of Guizhou Commercial College
关键词
煤炭行业
资本结构
影响因素
实证研究
Coal industry
Capital structure
Influencing factors
Empirical study
