农业类上市公司资本结构对企业价值的影响

选择度量农业类上市公司资本结构与其企业价值间关系的指标建立多元线性回归模型,并进行分析。结果表明,农业类企业价值与资本结构、公司盈利能力、公司规模之间存在显著的线性关系,而与公司成长能力之间关系不显著。随着企业资产负债率的增加,农业类企业价值呈现先不断上升,然后逐步缓慢下降的趋势,资产负债率在约50%的时候企业价值处于较高水平,因此农业类企业存在企业价值最大化的资本结构。

Influence of Capital Structure of Agricultural Listed Company on Enterprise Value

The indexes to measure capital structure of agricultural listed companies and its enterprise values were selected to establish multiple linear regression model,and carried out analysis.The results showed that the value of agricultural enterprises had significant linear relationship with capital structure,profitability and scale of company,which had no significant relationship with company growth ability.With the increase of debt ratio of state-owned enterprises,the value of agricultural enterprise first continuously increased,but gradually slowed down.When the debt ratio of assets was 50%,the enterprise value was in a higher level,so agricultural enterprise existed the capital structure to maximize the value of enterprise.