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伴随着中国经济的飞速增长,民营经济已成为我国国民经济的主要构成部分。民营上市公司的资金来源对其生存和发展有着重要影响,而资本结构影响着企业的融资方式、融资成本、投资决策和经济效益等,所以资本结构对企业的运营意义非凡。本文以湖南省31家制造业民营上市公司为分析对象,对湖南省制造业的民营上市公司资本结构现状进行了系统的分析,最终得出湖南省制造业资本结构存在资产负债率偏低、负债结构不合理、股权相对集中的一般性结论,并提出加强发展债券市场、降低短期负债比例、规范我国股票市场、促进股权体制改革的建议。
With the rapid growth of China’s economy, the private economy has become a major part of China’s national economy. The source of funds for private listed companies has an important impact on their survival and development. However, the capital structure affects the financing methods, financing costs, investment decisions and economic benefits of the enterprises. Therefore, the capital structure has an extraordinary significance for the operation of the enterprises. Based on the analysis of 31 manufacturing private listed companies in Hunan Province, this paper systematically analyzes the current status of capital structure of private listed companies in manufacturing industry in Hunan Province. Finally, it concludes that the capital structure of manufacturing industry in Hunan Province is low, Structure unreasonable and relatively concentrated ownership, and put forward suggestions on strengthening the development of bond market, reducing the proportion of short-term debt, regulating the stock market of our country and promoting the reform of the ownership structure.