公司绩效与资本结构的相关性分析——基于我国a股上市公司的实证分析

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1、中央民族大学硕士研究生毕业论文ABSTRACTCorporateperformanceanalysisisanimportantpartofthecompanyfinancialanalysis．Thelevelofcorporateperformancehasreceivedmuchattentionfromthecompany’Screditors，investors，managers，employeesandeventhegovernment．Thedirectpurposeofacompanyfounde

2、distomaximizeitsprofitandachievelong—termdevelopment．Sustainedandstableoperationanddevelopmentisnotonlytheprerequisiteandbasisforacompanytomaximizeitsprofits，butalsoaguaranteeforfirmperformancecanberealized．Therefore，focusingontheanalysisofcorporateperformanc

3、e，enhancingthecorporateperformancehasaveryrealeconomicsignificancebothforthestakeholderandthecompanyitself．Whatarethemainpointsofviewaboutrelevancebetweenthecapitalstructureandcorporateperformanceabroad?WhichareinlinewithChina’Sactualsituationandcouldbeusedas

4、theguidingideologyintopractice?Howtomaketheoptimizationofcapitalstructurecometrue?WhetherChinalistedcompaniescanbenefitmorefromliabilitiesfinancingthanfromequityfinancing?Allthosequestionsshouldbeconsideredduringthecapitalstructuredecision—making．InthisPaper,

5、combinationofnormativeandempiricalresearch，中央民族大学硕士研究生毕业论文qualitativeanalysisandquantitativeanalysis，individualanalysisandgeneralanalysishavebeenused．Onthebaseofintroductionofrelevanttheoriesandresearchdocumentsaboutrelationshipbetweencapitalstructureandcorpo

6、rateperformance．Thispaperchoosecompaniesofvehicleindustry,energyindustry,ITindustryandhouseholdappliancesindustrylistedinChina’SShanghaiandShenzhenA—sharestockmarketduring2006to2010forresearch．Throughthestatisticalanalysisoftheabove4industriesbySPSS，oneofthef

7、amousstatisticsoftware，wefoundthatperformanceofsamplecompaniesduring2006to2010hasnegativecorrelationwithitscapitalstructure，Whichalsoindicatesthatthecorporateperformancewithaliability-assetratiofrom40％to50％ishigherthanothers．Thispaperisdifferentfromotherempir

8、icalresearchofcapitalstructureandcorporateperformancerelationship．Inordertoeliminatetheaffectfromdifferentindustry,thispaperselectedthedataoflistedcompaniesaboutfourindustries(automobile，