关于研发对农业上市公司资本结构影响的实证研究

An Empirical Study on the Impact of R&D on the Capital Structure of Agricultural Listed Companies

摘要: 随着科技的高速发展，在农业企业“粗放型生产”转向“集约型生产”的过程中的资本结构受到科技因素的影响。本文拟在资本结构决定因素的理论上，以36家农业上市公司的财务数据作为样本，通过描述性分析、相关性分析和回归分析三种方法探讨科技对公司结构的影响程度。结果表明研发经费、科研人员比例与资本结构正相关，固定资产增长率与资本结构负相关，专利产出数量与资本结构没有显著相关性。

Abstract: As the technology development becomes incredibly fast, agricultural company capital structure is affected by science and technology factors during the transition from extensive production to intensive production. Based on the theory of capital structure determinants, this paper takes the financial data of 36 agricultural listed companies as samples to explore the impact of technology on company capital structure through descriptive analysis, correlation analysis and regression analysis. The results show that the ratio of R&D expenditure and researchers is positively correlated with capital structure, the growth rate of fixed assets is negatively correlated with capital structure, and the number of patent output is not significantly correlated with capital structure.