企業(yè)資本結(jié)構(gòu)的選擇與治理效率的相關(guān)性——基于中國(guó)上市公司的實(shí)證研究.pdf

1、中國(guó)科學(xué)技術(shù)大學(xué)碩士學(xué)位論文企業(yè)資本結(jié)構(gòu)的選擇與治理效率的相關(guān)性——基于中國(guó)上市公司的實(shí)證研究姓名：丁晨申請(qǐng)學(xué)位級(jí)別：碩士專(zhuān)業(yè)：管理科學(xué)與工程指導(dǎo)教師：曹崇延20050401中國(guó)科學(xué)技術(shù)大學(xué)碩士學(xué)位論文企業(yè)資=；牟：結(jié)掏的選擇與治理效率的相關(guān)性AbstractCapitalstructureisnotonlyhotspotanddifficultyoftheresearchonfinancetheories。butalsoacrucia

2、lissueoffinancingdecision—makinginacompanySince1970’s，thecombinationbetweencapitalstructureandcorporategovernancegraduallybecomethefocusoftheresearchoncapitalstructuretheoriesTheeffectofcapitalstructureongovernanceeffici

3、encyrealizesbymeansofthechoiceofthecompanyontheproportionofdebtandownershipstructureCorporategovernanceisbasedoncapitalstructure，whichdeterminethepatternofcorporategovernanceandgovernanceefficiencyWiththehighspeedandstea

4、dydevelopmentoftheeconomyinmycountry，andthecontinuousimprovementoflawsystemcondition，manybrandnewchangeshavetakenplaceincivilsecuritiesmarketComparedwiththepast，thechoicesofmanylistedcompaniesoncapitalstructuregraduallyt

5、endtobeo功ectiveandrationalButbecauseofjustintheeconomicturnaroundperiodofourcountry，agoodmanyirrationalitiesstillexistinthecapitalstructureofcompanies，whichresultsinlowlevelgovernanceefficiencyThepapertakescapitalstructu

6、reinwidesenseastheresearchframeBasedontheoreticalanalysesofcapitalstructureandcorporategovernance，thepaperhascomprehensivelyreviewedactualitiesofdebtgovernanceandequitygovernanceofChineselistedcompaniesMoreover，thepaperh

7、asdiscussedtwoimportantissuesofthelikeofequityfinancingandparticulargreatnessofstate—ownedstockinownershipstructureofChineselistedcompaniesAndthen，basedonthedataofpartoflistedcompaniesinfirstfouryearsofthiscenturyandusin

8、gthestatisticalmethodofprincipalcomporrentsanalysisandregression。thepaperdesearchofttherelativitybetweenthechoiceofthecompanyoncapitalstructureandgovernanceefficiencyFinallyfromtwoaspectsofstrengtheningdebtandequitygover

9、nanceeffect，thepaperhasbroughtforwardsomerelativepolicyadviceThepapertriestogivene、vempiricalevidenceofdecisionofcapitalstructureandtheactualitiesofgovernanceefficiencyofChineselistedcompanies，atthesametimeprovidssomesup