摘要
采用深沪股市 1999～ 2 0 0 0年的相应数据 ,在考虑了“资产重组”这一因素后 ,对样本进行了筛选 .运用实证研究的方法 ,对资本成本与资本结构的关系进行了横截面分析 .在研究中 ,鉴于短期债务在我国的特殊性 ,分别考察了长期财务杠杆和短期财务杠杆对资本成本的影响 ,并得出以下几点分析结论 :长期财务杠杆对权益资本成本和加权资本成本的影响不显著 ;短期财务杠杆与权益资本成本和加权平均资本成本显著正相关 ;
Based on the data (1999,2000) from Shenzhen and Shanghai stock market, the samples were selected to avoid the influence of 'capital reconstruction'. The relation between capital cost and capital structure was analyzed by cross sectional method. In consideration of the specialties of short time debts, the influence of long time financial leverage and its short time financial leverage on capital cost was studied It was indicated that long time financial leverage has no evident influence on equity cost and weighted average cost of capital; short time financial leverage has positive correlation with equity cost and weighted average cost of capital; the scale of corporation has positive correlation with equity cost and weighted average cost of capital.
出处
《华中科技大学学报（自然科学版）》
EI
CAS
CSCD
北大核心
2003年第1期92-94,共3页
Journal of Huazhong University of Science and Technology(Natural Science Edition)
基金
湖北省软科学基金资助项目 (2 0 0 0 2P2 4 0 8)
