【作者】 张帆；

【导师】 孔玉生；

【作者基本信息】 江苏大学 ， 会计学， 2011， 硕士

【摘要】 本文以我国的有色金属行业上市公司中的35家公司2006-2010年的财务数据为样本,采用因子分析和回归分析相结合的方法,对我国有色金属行业上市公司的资本结构与获利能力的关系进行实证分析。研究目的是通过对有色金属行业上市公司资本结构与盈利能力进行实证分析得出其相互关系,再结合其现状,发现存在的问题和不足之处,针对问题提出相应的解决措施,以促进有色金属行业上市公司健康快速地发展。首先,本文搜集和回顾了国内外相关研究文献,并对其进行了综述和分析；介绍了资本结构的基本理论,阐述了资本结构与盈利能力的评价指标和方法,并对其相互关系理论进行了简要概述,对后面的实证研究起到了理论指导实践的作用。其次,对有色金属业上市公司资本结构以及盈利能力的现状进行了描述,用大量的数据进行分析,指出存在的问题,并发现二者之间可能存在的相互关系。再次,通过变量、样本的选取,研究假设的提出,多元线性模型的构建,利用著名的统计学分析软件SPSS17.0,对有色金属业35家上市公司2006-2010年的财务数据进行主成分回归分析,选取资本结构为被解释变量,盈利能力为解释变量,得出二者的多元线性公式,通过公式表明资本结构与有些盈利能力指标成正比,与有些成反比,最后对结果进行分析。最后,在对有色金属业上市公司资本结构与盈利能力现状及实证研究的基础上,针对存在的问题,提出优化资本结构,提高盈利能力的对策,以期为当地上市公司的融资提供更为可行性的措施,从而促进有色金属业的快速发展。更多还原

【Abstract】 In this paper, there are 35 companies of China’s listed companies in non-ferrous metals industry and take the financial data from 2006 to 2010 as sample, using a combination method of factor analysis and regression analysis, making the empirical analysis of the relationship of capital structure and profitability of listed companies in China’s nonferrous metals industry. Research purpose by empirical analysis of non-ferrous metals industry listed on the company’s capital structure and profitability is knowing their mutual relations. Then combining with its status, we can identify gaps and deficiencies and find the corresponding problem-solve measures to promote non-ferrous metals listed companies in healthy and rap development.First of all, this paper collect and review relevant literature home and abroad, and synthesis and analysis is carried out; describes the basic theory of capital structure to explain the capital structure and profitability indicators and evaluation methods, and give a brief overview of their mutual relations theory. So it has played a role of empirical research behind the theory into practice.Secondly, non-ferrous metal industry, capital structure and profitability of the current situation is described, with plenty of data analysis, pointing out problems, and found that the interaction may exist between the two relationships.Again, through the variables, sample selection, the proposed hypothesis, the building of multiple linear model, the use of well-known statistical analysis software SPSS17.0, the made main ingredient regression analysis of 35 listed companies in the financial data for 2006-2010 in non-ferrous metal industry, selecting capital structure as the explanatory variable, profitability as the explanatory variable, obtained multiple linear equations. By the formula shows that some of the capital structure and profitability indicators of proportional and inversely proportional to some, the final analysis of the results.Finally, on the basis of empirical research of capital structure and profitability of the situation in the non-ferrous metal industry, and deal with the problems, proposed to optimize the capital structure and improve profitability measures with a view to financing for local companies to provide a more feasible measures to promote the rapid development of non-ferrous metals industry.更多还原