【摘要】：畜牧業(yè)作為我國(guó)農(nóng)業(yè)的重要組成部分,是國(guó)民經(jīng)濟(jì)的基礎(chǔ),然而由于其質(zhì)量安全以及生產(chǎn)條件落后等原因,畜牧業(yè)的發(fā)展面臨著巨大的壓力。在嚴(yán)峻的形勢(shì)下如何合理安排股權(quán)結(jié)構(gòu)和負(fù)債結(jié)構(gòu),以提升畜牧業(yè)上市公司治理效率、控制風(fēng)險(xiǎn)和達(dá)到企業(yè)價(jià)值最大化顯得尤為重要。筆者以經(jīng)濟(jì)增加值作為畜牧業(yè)上市公司的業(yè)績(jī)?cè)u(píng)價(jià)指標(biāo),構(gòu)造資本結(jié)構(gòu)與經(jīng)濟(jì)增加值相關(guān)函數(shù)進(jìn)行回歸分析。結(jié)果表明:畜牧業(yè)上市公司流動(dòng)負(fù)債率、有息負(fù)債率和Z指數(shù)對(duì)經(jīng)濟(jì)增加值有負(fù)影響;長(zhǎng)期負(fù)債率對(duì)經(jīng)濟(jì)增加值有正影響;資產(chǎn)負(fù)債率與經(jīng)濟(jì)增加值呈二次函數(shù)關(guān)系,當(dāng)資產(chǎn)負(fù)債率為55.16%時(shí),企業(yè)存在最大的經(jīng)濟(jì)增加值。
[Abstract]:As an important part of agriculture in China, animal husbandry is the foundation of national economy. However, because of its quality safety and backward production conditions, the development of animal husbandry is facing great pressure. In the severe situation how to arrange the ownership structure and the debt structure reasonably in order to improve the efficiency of the stockbreeding listed company control the risk and achieve the maximization of the enterprise value is particularly important. The author takes the economic added value as the performance evaluation index of listed stockbreeding companies and constructs the correlation function of capital structure and economic added value for regression analysis. The results show that the current debt ratio, interest-bearing debt ratio and Z index of listed stockbreeding companies have negative effects on the economic added value, the long-term debt ratio has a positive effect on the economic added value, and the asset-liability ratio has a quadratic function relationship with the economic added value. When the asset-liability ratio is 55.16, the enterprise has the largest economic added value.
【作者單位】： 東北農(nóng)業(yè)大學(xué)經(jīng)濟(jì)管理學(xué)院;
【基金】：基金項(xiàng)目:黑龍江省小漿果產(chǎn)業(yè)發(fā)展研究(12B073)
【分類號(hào)】：F302.6;F326.3
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本文編號(hào)：2131549