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以净资产收益率ROE为公司价值的指标,在国内外大量研究资本结构、股权结构与企业价值关系成果的基础上,利用2006～2008年零售行业上市公司的相关数据,运用线性回归方法进行了检验。认为上市公司的公司价值均与其资本结构正相关,股权集中度与公司价值正相关,流通股比例与公司价值负相关,而国家股比例与公司价值关系不显著。
ROE is the index of the company’s value. Based on the domestic and international research on the relationship between the capital structure, the ownership structure and the enterprise value, using the data of listed companies in the retail industry from 2006 to 2008, using the linear regression method test. It is considered that the corporate value of listed companies is positively related to their capital structure. The concentration of ownership is positively correlated with the company value. The proportion of tradable shares is negatively correlated with the company value, while the relationship between national shares and company value is insignificant.