摘 要
本研究旨在深入探讨股权结构对企业融资决策的影响。在当前经济环境下，企业融资决策对于企业的稳健发展至关重要，而股权结构作为公司治理的核心要素，其对企业融资行为的影响不容忽视。本研究采用定量分析与案例研究相结合的方法，通过对多家上市公司的股权结构与融资决策数据进行实证分析，揭示了不同股权结构下企业融资决策的特点与规律。研究发现，股权集中度与企业融资规模呈正相关关系，而股权制衡度则对企业融资决策产生制约作用。此外，本研究还创新性地探讨了机构投资者持股对企业融资决策的影响，发现机构投资者持股比例的提高有助于优化企业融资结构，降低融资成本。
关键词：企业融资 股权结构 融资成本
Abstract
This study aims to deeply explore the influence of equity structure on corporate financing decisions. In the current economic environment, the financing decision is very important to the steady development of enterprises, and as the core element of corporate governance, the influence of equity structure on the financing behavior of enterprises cannot be ignored. This study adopts the method of combining quantitative analysis and case study, and through the empirical analysis of the equity structure and financing decision data of many listed companies, it reveals the characteristics and rules of the financing decision of enterprises under different equity structures. It is found that the concentration of equity is positively correlated with the financing scale of enterprises, while the balance of equity checks on the financing decision of enterprises. In addition, this study also innovatively explored the impact of institutional investors 'shareholding on corporate financing decisions, and found that the increase of institutional investors' shareholding ratio helps to optimize the corporate financing structure and reduce the financing cost.
Keyword:business finance equity structure financing cost
目 录
1绪论 1
1.1研究背景和意义 1
1.2 国内外研究现状 1
1.3 研究方法与数据来源 1
2股权结构与企业融资决策理论基础 2
2.1股权结构的概念与类型 2
2.2 企业融资决策的影响因素 2
2.3 股权结构对企业融资决策的作用机制 3
2.4 相关理论基础及研究假设 3
3股权结构对企业融资决策影响的实证分析 3
3.1数据收集与样本选择 3
3.2 变量定义与模型构建 4
3.3 实证结果与分析 4
3.4 稳健性检验 5
4股权结构对企业融资决策影响的案例研究 5
4.1 案例分析 5
4.2 案例比较与综合讨论 6
4.3 对企业融资决策的启示 6
5结论 7
参考文献 8
致谢 9
本研究旨在深入探讨股权结构对企业融资决策的影响。在当前经济环境下，企业融资决策对于企业的稳健发展至关重要，而股权结构作为公司治理的核心要素，其对企业融资行为的影响不容忽视。本研究采用定量分析与案例研究相结合的方法，通过对多家上市公司的股权结构与融资决策数据进行实证分析，揭示了不同股权结构下企业融资决策的特点与规律。研究发现，股权集中度与企业融资规模呈正相关关系，而股权制衡度则对企业融资决策产生制约作用。此外，本研究还创新性地探讨了机构投资者持股对企业融资决策的影响，发现机构投资者持股比例的提高有助于优化企业融资结构，降低融资成本。
关键词：企业融资 股权结构 融资成本
Abstract
This study aims to deeply explore the influence of equity structure on corporate financing decisions. In the current economic environment, the financing decision is very important to the steady development of enterprises, and as the core element of corporate governance, the influence of equity structure on the financing behavior of enterprises cannot be ignored. This study adopts the method of combining quantitative analysis and case study, and through the empirical analysis of the equity structure and financing decision data of many listed companies, it reveals the characteristics and rules of the financing decision of enterprises under different equity structures. It is found that the concentration of equity is positively correlated with the financing scale of enterprises, while the balance of equity checks on the financing decision of enterprises. In addition, this study also innovatively explored the impact of institutional investors 'shareholding on corporate financing decisions, and found that the increase of institutional investors' shareholding ratio helps to optimize the corporate financing structure and reduce the financing cost.
Keyword:business finance equity structure financing cost
目 录
1绪论 1
1.1研究背景和意义 1
1.2 国内外研究现状 1
1.3 研究方法与数据来源 1
2股权结构与企业融资决策理论基础 2
2.1股权结构的概念与类型 2
2.2 企业融资决策的影响因素 2
2.3 股权结构对企业融资决策的作用机制 3
2.4 相关理论基础及研究假设 3
3股权结构对企业融资决策影响的实证分析 3
3.1数据收集与样本选择 3
3.2 变量定义与模型构建 4
3.3 实证结果与分析 4
3.4 稳健性检验 5
4股权结构对企业融资决策影响的案例研究 5
4.1 案例分析 5
4.2 案例比较与综合讨论 6
4.3 对企业融资决策的启示 6
5结论 7
参考文献 8
致谢 9
