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1、AbstractAnEmpiricalResearchonIndustrialFinancialLevelofChina’sListedCompaniesAbstractWiththeincreasingglobalizationofeconomy,andthedeepeningofChina'seconomicenvironment,thecompetitionsamongenterprisesareincreasedcorrespondently.Inordertosurviveinthishighlycompetit
2、iveenvironment,andtoseekbetterdevelopment,moreandmoredomesticenterpriseshadbeguntoexpandtheirscales.Todevelopandtogrow,thefirstandforemosttaskfacingacompanyistoraisefunds.Withthediversificationoffinancingmode,moreandmoreenterpriseschoosedebtfinancingasanimportantm
3、eansoffinancing,owingtothefinancialleverageeffectofdebtfinancing.Thevariousofdifferencesbetweendifferentindustriesleadtodifferentsolutionstoeffectivelyusefinancialleverages.Therefore,theresearchontheindustrialfinancialleverageisparticularlyimportant.Thisthesisfirs
4、tintroducesdomesticandforeignresearchesonfinancialleverage,tofindoutthedefectsofresearchesonthisissueinChina.Secondly,itsummarizestherelevanttheoriesoffinancialleveragetopavethewayforfurtheranalysis.Therelevanttheoriesincludesthedefinitionoffinanciallever,financia
5、lleverage,financiallevereffectandsoon.Itthenmakesaseriesofanalysisonfinancialleveragebyempiricalresearch.Theresearchincludesanalysisofoverallleveloffinancialleverage,theinfluenceofindustryfactorsonfinancialleverage,theresearchofindustryfinancialleverageandtheeffec
6、tsofindustryfinancialleverage,anddifferencesinfluencefactorsofindustryfinancialleveragebyempiricalresearch.Andthenwehavesomeconclusions,itincludesthatfinancialleverandfinancialleverageremainatareasonablelevelduring2011-2013;andtheindustryfactorshaveasignificanteff
7、ectonthefinanciallever.Secondly,thefinancialleverageof17industriesareallplayedapositiverole,buttheefficiencyintheuseoffinancialleveragehasalargerdifference.Inaddition,differentindustrieshavedifferentinfluencefactorsoffinanciallever,andthemainfactorsincludingtheind
8、ustryscale,industrygrowth,industryassetsmortgage.finally,itsummarizesthewholethesis,andpointsouttheinnovationsandlimitations.KeyWords:Financiallever,Ind
