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基于沪深300股金融服务业上市公司的样本数据,采用多元线性回归法研究金融服务业上市公司资本结构的变化及其影响因素。结果表明:金融服务业上市公司资产负债率与长期负债率较低,股权融资偏好尤为明显;公司的资产规模、资产担保价值、资产运营能力与资本结构正相关,而公司的盈利能力与资本结构负相关,潜在的成长性和股权集中度与资本结构关系不明显;因此要拓宽融资渠道,降低融资成本,促进金融服务业公司资本结构的合理化、完整化。
Based on the sample data of 300 listed financial service companies in Shanghai and Shenzhen, the author uses multivariate linear regression to study the changes of the capital structure of financial services listed companies and their influencing factors. The results show that the debt-to-asset ratio and long-term debt ratio of listed companies in the financial services industry are relatively low, and the preference for equity financing is particularly obvious. The asset scale, the value of assets guaranty, the asset operation ability and the capital structure are positively related to the company’s profitability and capital structure Negative correlation, potential growth and ownership concentration are not obvious with the capital structure. Therefore, it is necessary to broaden the financing channels, reduce financing costs and promote the rationalization and completeness of the capital structure of financial services companies.