煤炭上市公司资本结构与公司成长性研究

文章以沪深两市2015-2018年的煤炭上市企业数据为研究样本，研究煤炭企业资本结构和成长性之间的关系，采用因子分析法和线性回归的方法，从盈利能力，短期偿债能力，资产营运水平，发展能力四个方面反映企业成长性，最终得出盈利能力，短期偿债能力和资产营运水平和企业成长性之间存在着负相关的关系，这对促进煤炭企业构建合理资本结构，降低企业财务风险，保证企业经营目标有着实际意义。

Research on the capital structure and corporate growth of coal listed companies

Based on the data of coal listed companies in Shanghai and Shenzhen from 2015 to 2018, this paper studies the relationship between the capital structure and corporate growth of coal enterprises through the adoption of factor analysis and linear regression. The corporate growth is reflected from profitability, short-term liquidity, asset operation level and development capability. In the end, it is concluded that there exists a negative correlation between profitability and corporate growth. The same goes for the relationship between short-term liquidity and corporate growth. At the same time, the asset operation level and corporate growth also have negative correlation. This has practical significance for promoting coal companies to build a reasonable capital structure, reduce their financial risks, and ensure their business goals.