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农业上市公司可以对金融业进行控股实现直接的产融结合,也可以通过股权投资在实体企业之间产生关联关系,依托双方的经济业务,间接实现产业资本与金融资本的渗透与融通。产业资本和金融资本的直接或间接融合都能够影响农业上市公司的融资能力。因此,本文从融资规模、外部融资依赖度、融资结构和融资成本4个角度,构建了产融结合对农业上市公司融资能力影响的评价指标体系,并利用相关性分析方法,以我国沪深上市的农业公司为样本,展开产融结合对融资能力影响的实证研究。产融结合确实对农业上市公司的融资能力带来显著的影响,其中,基于股权投资的间接产融结合对农业上市公司的融资能力和融资结构的影响更显著。
Agricultural listed companies can control the financial industry to realize the direct combination of industry and finance. They can also generate the affiliation relationship between the real enterprises through equity investment, and rely on the economic activities of both parties to indirectly achieve the penetration and integration of industrial capital and financial capital. The direct or indirect integration of industrial capital and financial capital can affect the financing ability of agricultural listed companies. Therefore, this paper constructs the evaluation index system of the impact of the combination of production and financing on the financing ability of listed agricultural companies from four aspects: the scale of financing, the dependence of external financing, the financing structure and the financing cost. By using the correlation analysis method, Of the agricultural companies as a sample, expand the empirical research on the impact of the combination of production and financing on financing ability. The combination of industry and finance does have a significant impact on the financing ability of listed agricultural companies. Among them, the combination of indirect production and financing based on equity investment has a more significant impact on the financing ability and financing structure of listed agricultural companies.