CAJ | 학술논문

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。
선택도량농업류상시공사자본결구여기기업개치간관계적지표건립다원선성회귀모형,병진행분석。결과표명,농업류기업개치여자본결구、공사영리능력、공사규모지간존재현저적선성관계,이여공사성장능력지간관계불현저。수착기업자산부채솔적증가,농업류기업개치정현선불단상승,연후축보완만하강적추세,자산부채솔재약50%적시후기업개치처우교고수평,인차농업류기업존재기업개치최대화적자본결구。
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 abihty. 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.