本文主要从负债结构的角度去研究资本结构与企业绩效的关系。具体而言,本文选取了1993年底之前在沪深交易所上市的制造业上市公司2004-2008年五年间的统计数据,从不同的角度分析其在资产负债率、短期负债比例、长期负债比率、银行借款比例、信用负债比例的变化情况;进而通过线性回归,探究不同的负债结构和企业绩效(托宾Q和ROA)之间的关系。 This paper mainly studies the relationship between capital structure and firm performance from the perspective of debt structure. Specifically, this article selects the statistics of manufacturing listed companies listed in Shanghai and Shenzhen Stock Exchanges before the end of 1993 over the five years from 2004 to 2008, and analyzes their differences in asset-liability ratio, short-term debt ratio, long-term debt ratio, Bank loan ratio and credit debt ratio; and then through linear regression, to explore the relationship between different debt structure and corporate performance (Tobin Q and ROA).