And the capital structure indicators are selected as widely-used asset-liability ratio and the less-commonly-used long-term capital debt ratio. 对于资本结构指标的选取,本文采用了被广泛使用的资产负债率指标和较少人使用的长期资本负债率指标。
Enterprise's capital structure means the ratio of the debt to total assets. 企业资本结构指企业的负债与总资产的比率。
The results revealed that the pecking order hypothesis tends to be more consistent with the capital structure of China, while the firm size is significantly positive related to the asset-liability ratio according to the characteristic of Chinese capital market. 结果表明,一方面,优序融资理论能对目前我国的资本结构及其影响因素做出较好的解释,但由于我国资本市场本身固有的特点,资产规模与资产负债率呈显著正相关;
Secondly, it analyzes present situation of Chinese capital structure and find four marked features: 1 Debt-Asset ratio is relatively low; 其次,笔者分析了中国公司资本结构的现状,指出其呈现的四大特点:1、负债资本比率相对较低;
The study finds that, the debt percentage in Chinese listed companies capital structure is relatively low, while the short-term debt percentage is high, and the ratio of long-term debt is low. 发现中国上市公司资本结构中负债比重偏低,流动负债比重偏高,长期负债比重偏低;
Then has carried on the theory and empirical analysis of the relationship of growth opportunities and capital structure, proved the growth opportunity and enterprise's debt ratio highly negative related, enterprise who with higher growth opportunities, have the more inclined to maintain low debt level. 然后对企业增长机会和资本结构的关系进行了理论与实证分析,证明增长机会与企业的负债比率高度负相关,增长机会越多的企业,越倾向于保持较低的负债水平。
An Analysis of Entrepreneurial Capital Structure Ratio 企业资产结构比重分析探究
Empirical testing indicates that optimum capital structure of every country's banks is not the same; capital ratio and capital return have no co-integrated relations, and mere isn't an optimal capital ratio for all banks. 实证检验表明,各国银行的最佳资本结构并不完全相同,资本比率与资本收益率之间也不存在协整关系,不存在一个适于所有银行的最佳资本比率。
Capital structure, generally represented by the proportion of long-term liability in the total capital, refers to the ratio of long-term liability to owner's equity in the total capital or long-term funds. 资本结构是指企业总资本即长期资金中长期负债与所有者权益之间的比例关系,一般以长期负债占总资本的比重来表示。
Stock concentrate intensity has similar effect to capital structure of listed companies, but its change can not influence that of debt ratio. 本文还着重分析了股权集中度和资产规模对资产结构的影响,发现资产规模与资产负债率正相关但与其变化率负相关,而且资产规模的扩大可以显著降低资产负债率的变化率。
The results of positive study showed that current difference of horizontal cross-section has great influence on capital structure; however, the aggregate change of market-book ratio has almost no explanation on capital structure. 实证研究结果表明,市值-账面比近期的水平横截面差异对资本结构的影响显著,但是市值-账面比的历史变化累计结果对资本结构几乎没有解释力。
The paper empirically studies the firm's capital structure in Ningbo city, Zhejiang province and finds that the ratio of debt financing varies significantly with the size and the ownership of one firm. 从宁波市企业资本结构的实证研究看,债务融资比率根据企业的规模大小、所有制性质的不同而存在明显的变化。
This article analyses the capital structure and capital adequacy ratio of our state-owned commercial banks, and accordingly puts forward the effective countermeasure to be chosen. 本文对我国国有商业银行的资本构成及资本充足比率进行分析,并相应提出了可供选择的有效对策。
This text discovers in the research of MeiLing joint-stock company capital structure, the unreasonable capital structure, the margin outlet one, the higher debt ratio. 本文在对合肥美菱股份公司资本结构的研究中发现,其资本结构的不尽合理,融资渠道单一、负债率较高。
In today's insurer's capital structure, state capital is still dominating but its ratio is decreasing because of the introduction of financial capital, the expanding ratio of foreign capital and the introduction of private-sector capital. 目前在保险公司资本中,国有资本仍占主要地位,但其比例逐步降低、金融资本逐步进入保险业、外资资本占比不断扩大、民营资本对保险业期望值高但持续注资能力不足。
The optimum capital structure is the ratio of long-term liabilities to equities when the average cost of capital is lowest and the value of enterprise is max. 企业最优资本结构是指使企业平均资本成本最低且企业价值最大的债务资本和权益资本的比例关系。
Section three defines capital structure which is defined to asset liability ratio in this paper, and analyzed its statistical feature. 第三部分对资本结构作了界定,本文将资本结构定义为资产负债比率,并分析了民营上市公司资本结构的统计特征。
The capital structure of enterprises refers to enterprises in a variety of capital and the ratio between the composition. 公司的资本结构是指公司资本的组成以及不同种类的资本之间的比率关系。
It was found that capital structure can effectively reduce the agency costs, in the post-split share structure reform. The increase in the ratio of long-term liabilities can reduce agency costs and enhance enterprise value, to a certain range. 结果发现,我国国有上市公司资本结构对代理成本的影响在股权分置改革后表现出较好的相关性,在一定范围内长期负债比率的增加可以降低代理成本,提升企业价值。
The capital structure of the narrow sense means the ratio of long-term debt capital and long-term equity capital. 狭义的资本结构则是指公司长期债务资本和长期权益资本的构成比例。
Secondly, Study the capital structure selection in different growth, By Using total debt ratio, short-term debt ratio and Long-term debt ratio to measure the capital structure at the same time. 其次,对不同成长阶段下资本结构的选择进行研究,从总资产负债率、短期负债率及长期负债率三个角度衡量资本结构。
Based on the empirical results of this paper, some policy recommendations will be suggested such as to build diversified industrial structure, optimize capital structure, improve capital adequacy ratio, strengthen competition, control the reasonable ratio of deposit and lending. 实证结果为我们的应用提供了很好的佐证,在此基础上提出了构建多元化产业结构、优化资产结构、提高资本充足率、加强行业竞争、合理控制存贷比的政策建议。
Asset securitization is helpful to improve the liquidity and increase market investment and financing channel, scattered excess savings funds, reduce inflationary pressures, the its cost is low, improve the capital structure, raise capital adequacy ratio, and many other functions. 资产证券化有利于提高资产流动性,增加市场投融资渠道,分散过剩储蓄资金,减少通胀压力,融资成本较低,能改进资本结构,提高资本充足率等诸多功能。
The empirical results indicate that all measures of capital structure ( i.e., the total debt ratio, the long-term debt ratio, and the short-term debt ratio) are negatively related to the firm performance ( i.e., the return on assets and the market-to-book ratio). 实证结果表明,衡量公司资本结构的主要指标,例如总债务比例、长期债务比例、短期债务比例和公司绩效指标,如ROA和市值面值比附相关。
In core capital structure aspect, ratio of equity accounts for total capital is significantly negative related with security, and positive related with growth. 核心资本结构方面,股本占核心资本比例与中小银行安全性显著负相关,与成长性显著正相关。
Second, in order to further research the optimization degree of the capital structure of high-tech listed enterprises, the ratio between optimal debt ratio and actual debt ratio is defined as "optimal ratio". 第二、为了进一步研究高新技术上市公司资本结构优化程度,将最优负债率与实际负债率之间的比值定义为最优比率。
Some results indicate that: capital structure and operation performance showed a positive correlation; Performance and financial leverage ratio based on the book value calculation showed a positive correlation. 有的成果表明:资本结构与经营绩效之间呈现出正相关的关系;绩效与账面价值财务杠杆比率之间呈现出正相关关系。
The optimal capital structure is negatively related to current ratio, non-debt tax shield, net profit ratio and growth, and positively related with the size of the company, the proportion of tangible assets, and the survival time. 最优资本结构与流动比率、非债务类税盾、净利润率及成长性负相关,与公司规模,有形资产占比,公司成熟度正相关,且存在年份与行业的差别。
The results show that the split share structure reform had significant influence on capital structure, asset-liability ratio has improved significantly; Industry also had significant influence on the capital structure. 分析结果显示:股权分置改革对上市公司资本结构存在显著影响,并且股权分置改革后资产负债率得到明显提升;行业因素对上市公司资本结构也存在显著影响。
Further proof that our State-owned enterprises of corporate value, in the optimal capital structure interval, raise as the debt ratio rise. 进一步印证了我国国有企业的企业价值在适宜的资本结构区间随负债率上升而上升的情况。