【作者】 陈瑜；

【导师】 黄怡；

【作者基本信息】 福建农林大学 ， 农业经济管理， 2006， 硕士

【摘要】 资本结构理论自20世纪50年代以来便是理论界一直研究但又充满争议的一个研究课题。根据现代资本结构理论，公司事实上存在着资本结构的合理区间，该区间取决于税收、破产成本、代理成本等多方面因素的权衡结果。但现代资本结构理论对公司资本结构如何达到合理区间却没有给出明确的答案。 本文紧紧围绕电子信息业上市公司资本结构评价模型展开分析，文章主要内容可以概括为三大部分：第一部分介绍国内外已有的资本结构模型研究，该部分旨在为研究我国电子信息业上市公司资本结构合理区间做好理论铺垫，第二部分构建模型和实证分析，以我国电子信息业上市公司近年来财务报表为样本，借鉴已有研究成果，概括出影响我国资本结构形成的十五个指标，通过指标选择和样本选取，借助SPSS和EXCEL统计软件，运用主成分分析法，构建资本结构评价模型并运用模型得出样本的综合得分，从而推导出电子信息业上市公司资本结构的合理区间。第三部分为结论与建议，这是本文的出发点与落脚点，将推导出的资本结构合理区间以预警的方式运用于公司实际资本结构决策过程中，并对后续研究提出建议。更多还原

【Abstract】 The theory of Capital Structure has been a researching hot spot full with dispute since 1950’s. According to modern Capital Structure Theory, there is a reasonable range for Capital Structure in a company, which is decided by the compromise of tax, cost of bankruptcy and dealership, etc. However, specific resolution of how to reach this range is not given by modern Capital Structure Theory.In this dissertation, capital structure estimation model of electronic information corporations that have come into market is analyzed. The rest of his dissertation is constructed as follow:In the first part of this dissertation, capital structure model currently used in domestic and overseas are introduced, which would be the basis of researching reasonable range of these electronic information corporations’ capital structure. In the second part, with the basis of former research, we deduce 15 factors that have effects on capital structures in our country, using finance reports of those electronic information corporations come into market in recent years as samples. With the help of SPSS and EXCEL statistical software, we employ main component analytical method through selection of factor and sample, and then construct a novel capital structure estimation model. Consequently, synthetical scores of these samples are calculated using our novel model and then the reasonable range of information corporations’ capital structure is deduced. In the third part of this dissertation, the conclusion and suggestion are given in the third part of this dissertation. We also give method of using this deduced capital structure reasonable in the decision-making process of corporations’ capital structure in a early-warning way. Finally, topics of subsequent research are suggested.更多还原