摘要
煤炭企业在碳中和的大背景下对健康稳健资金的需求日益扩大,如何保持合理的资本结构是煤炭企业长久以来的主要课题之一。选取煤炭企业36家上市企业作为研究对象,以国资委发布的《企业绩效评价标准值》为基础,利用煤炭企业2016—2020年的相关财务数据,分析煤炭企业的资产负债率和融资结构等资本结构现状,发现煤炭企业存在资产负债率不合理、融资方式单一和负债期限不均衡等问题。利用熵值法从静态和动态两个方面构建最优资本结构模型并求出最优区间,结合实证分析提出煤炭企业应保有自有资金、加强应收账款融资和构建多元化融资等建议和对策。
Under the background of carbon neutrality,coal enterprises have an increasing demand for healthy and stable funds.How to maintain a reasonable capital structure is one of the main issues for coal enterprises for a long time.Selecting 36 listed coal enterprises as the research object,based on the“Standard Value of Enterprise Performance Evaluation”issued by the State-owned Assets Supervision and Administration Commission,and using the relevant financial data of coal enterprises from 2016 to 2020,the capital-liability ratio and financing structure of coal enterprises are analyzed.In view of the current structure,it is found that coal enterprises have problems such as unreasonable asset-liability ratio,single financing method and uneven debt duration.Using the entropy method to construct the optimal capital structure model from both static and dynamic aspects and find the optimal interval,combined with empirical analysis,it is proposed that coal enterprises should keep their own funds,strengthen accounts receivable financing and build diversified financing and other suggestions and suggestions.countermeasures.
作者
黄东晶
田重阳
周宝莲
李薇薇
Huang Dongjing;Tian Chongyang;Zhou Baolian;Li Weiwei(Heilongjiang University of Science and Technology,Harbin 150027,China;Harbin Far East Institute of Technology,Harbin 150025,China)
出处
《煤炭经济研究》
2021年第11期51-56,共6页
Coal Economic Research
基金
黑龙江省哲学与社会科学规划资助项目(13E064)
黑龙江省哲学社会科学研究资助项目(18JYB156)
关键词
最优资本结构
熵值法
企业绩效评价标准值
资产负债率
煤炭企业
optimal capital structure
entropy method
standard value of enterprise performance evaluation
debt asset ratio
coal enterprises
作者简介
通讯作者:周宝莲(1968—),女,浙江椒江人,高级会计师,主要研究方向为会计学。E-mail:2305624738@qq.com;黄东晶(1972—),女,黑龙江哈尔滨人,副教授,主要研究方向为环境经济。E-mail:huangdj129@163.com
