论文部分内容阅读
本文收集52家电力企业2010-2014的面板数据,选取13个解释变量,运用多元回归考察高管背景特征对企业资本结构的影响,试图理清二者的关系,为电力行业合理的资本配置提供建议。研究结果表明:高管薪酬、平均学历、公司业绩、第一大股东持股比例与资本结构呈显著负相关;高管专业、公司规模与资本结构呈显著正相关。对影响资本结构的显著因素加以控制,推动电力行业优化资本结构的同时实现绿色可持续发展。
This paper collects panel data of 52 power companies from 2010 to 2014, selects 13 explanatory variables, and uses multiple regression to examine the influence of background characteristics of executives on the capital structure of enterprises, attempts to clarify the relationship between the two and provides reasonable capital allocation for the power industry Suggest. The results show that there is a significant negative correlation between executive compensation, average academic record, company performance, the shareholding percentage of the largest shareholder and capital structure. There is a significant positive correlation between executive professional and firm size and capital structure. Control the significant factors that affect the capital structure, and promote the power industry to optimize the capital structure while achieving green and sustainable development.