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本文选取沪深两市的70家物流上市公司作为样本,就宏观融资环境对物流行业资本结构的影响进行实证研究。研究结果显示,GDP增长率、信贷资金分配市场化程度均与资本结构呈现显著正相关关系;而证券化率与资本结构则呈现出显著负相关关系;通货膨胀率和经济资源分配市场化程度与资本结构无明显相关性。这一结论对物流行业形成合理的资本结构以及促使物流业健康发展有重要意义。
This paper selects 70 logistics listed companies in Shanghai and Shenzhen stock markets as a sample, and conducts an empirical study on the impact of the macro-financing environment on the capital structure of the logistics industry. The results show that both the GDP growth rate and the marketization of credit capital allocation have a significant positive correlation with the capital structure; while the securitization rate and capital structure show a significant negative correlation; the inflation rate and the degree of marketization of economic resource allocation and No significant correlation between capital structure. This conclusion is of great significance for the logistics industry to form a reasonable capital structure and promote the healthy development of the logistics industry.