【作者】 张正华； 王宇；

【Author】 ZHANG Zheng-hua, WANG Yu(Research Center of System Engineering, Yunnan University, Kunming 650091, China)

【机构】 云南大学软科学与系统工程研究中心；

【摘要】 融资结构影响并决定着资本结构,进而影响企业价值.为了深入考察上市公司的融资行为特征,本文将融资结构划分为股权融资、负债融资、保留盈余和折旧融资四种类型,并利用西南地区上市公司的有关数据资料从动态和增量角度进行实证分析,重点探讨上市公司融资结构的统计特征与时序特征,并揭示其原因.更多还原

【Abstract】 In order to investigate deeply the characteristics of the financing behaviors of the listed companies, this paper ranges financing structure into four types, including ownership financing, engagement financing, increment financing and depreciation financing. Based on the statistics of the listed companies in Southeast China, this paper tries to explore the primary characteristics of statistics and characteristics of time series of the listed companies by empirical analysis of dynamics and increase, in the hope of seeking out its reasons.更多还原