本科论文摘 要国内外针对财务杠杆对公司价值的影响问题进行了许多研究，得出不同的结论。本文首先总结了现有的研究结果，然后阐述了财务杠杆和公司价值的相关理论，为后文的数据分析做铺垫。又具体分析了财务杠杆如何影响公司价值，由于债务融资形成了财务杠杆，所以主要从债券融资对股东投资行为的影响来分析，从而探讨对公司价值的影响。近几年我国房地产行业发展迅速，成为领头行业。通过对 2016 年-2019 年我国房地产企业的财务数据进行研究发现，我国的房地产行业存在资产负债率较高和融资期限结构不合理等问题，并且财务杠杆与公司价值之间没有显著的关系。最后本文从三个方面提出优化传导机制的建议，从而提高公司价值。关键字：财务杠杆，经营绩效，公司价值本科论文AbstractMany researches on the influence of financial leverage on company value have been carried out at home and abroad, and different conclusions have been drawn. This paper firstly sorted out the existing research results, then elaborated the relevant theories of financial leverage and corporate value, laid a foundation for data analysis, and then analyzed the impact mechanism of financial leverage on corporate value. As debt financing forms financial leverage, this paper mainly analyzes the impact of bond financing on shareholders' investment behavior, and then discusses the impact on corporate value. Through research on the financial data of China's listed real estate companies in recent years, it is found that China's real estate industry has a high asset-liability ratio and unreasonable financing term structure, and there is no relationship between financial leverage and company value. Finally, this article puts forward three suggestions on optimizing the transmission mechanism to improve the company's value. Key words: Financial leverage, Business performance, Corporate value目 录本科论文前 言...........................................................................................
