哈尔滨商业大学德强商务学院毕业论文（设计）
毕业论文
题目上市公司资本结构问题研究
指导教师
学生姓名
二O一一年五月十八日
上市公司资本结构问题研究
摘要
上市公司资本结构问题研究一直是国内外学者研究的重点。过去众多学者的研究结果显示，上市公司资本结构存在“重外部融资、轻内部融资；重股权融资，轻债务融资；重流动负债，轻长期负债”的问题，随着宏观经济形式、行业特征及公司本身的不断发展，各上市公司都在不断的进行资本结构的优化，文章结合各行业上市公司的相关数据，分析了上市公司资本结构现状和存在的问题，并对相关问题提出资本优化的对策，完善上市公司资本结构，以促进我国整体经济的发展和加快居民生活水平的提高。
关键词:：上市公司；资本结构；股权融资；债务融资：资本优化
The Study on Capital Structure of Listed Companies
Abstract
Capital structure optimization has been the focus of study which academics did at home and abroad. According to the results which were gotten by many scholars in the past, the capital structure of China’s listed companies has the problems of attaching greater importance to external financing and less to internal financing, paying more attention to stock financing and less to bond financing as well as giving more weight to mobile debt and less to long-term debt. With the development of macroeconomic style, industry character and the company itself, various listed companies are consistently conducting the policy of capital optimization. By using the related information about various listed companies, the article analyzed the current situation and the problems of the capital structure, and in order to deal with those problems, the article put forward the strategy of capital optimization to perfect the capital structure of listed companies, by this way, the development of macrocosmic economy can be promoted and the living standard can be improved.
Key words: listed company; capital structure; equity financing; debt financing; capital optimization
目录
摘要 ....................................................................................................................................... I Abstract ...................................................................................................................................... II 目录 ..................................................................................................................................... I 1 绪论 (1)
1.1 研究目的和意义 (1)
1.1.1 研究目的 (1)
1.1.2 研究意义 (1)
1.2 国内外研究现状 (1)
1.2.1 国内研究现状 (1)
1.2.2 国外研究现状 (2)
1.3 研究内容和研究方法 (2)
1.3.1 研究内容 (2)
1.3.2 研究方法 (2)
2 上市公司资本结构概述 (3)
2.1 上市公司的涵义 (3)
2.2 资本结构的涵义 (3)
2.3 上市公司资本结构的基本特征 (3)
2.4 上市公司资本结构的构成 (4)
2.4.1 股权结构 (4)
2.4.2 债务结构 (4)
2.4.3 负债权益比 (4)
2.5 资本结构的相关理论 (5)
2.5.1 MM理论 (5)
2.5.2 权衡理论 (5)
2.5.3 代理理论 (5)
3 上市公司资本结构存在的问题 (6)
3.1 资产负债率偏低 (6)
3.2 负债结构不合理 (6)
3.3 偏好股权融资 (7)
3.4 资本结构调整弹性小 (8)
4 完善上市公司资本结构的对策 (9)
4.1 调整上市公司的负债结构 (9)
