摘 要

首先，从利率、资本结构等理论知识展开，然后对我国利率和资本结构现状进行分析，对利率指标和资本结构指标展开研究，分析他们之间的关系。然后以宝钢上市公司为例，通过计算各种利率来分析它对资本结构的影响。通过数据和分析表明利率市场化是上市公司资本结构的重要影响因素，并且研究发现利率的变动会对上市公司资本结构产生显著的影响。最后对这一问题研究进行总结。处理好利率与资本结构之间的关系，选择良好的资本结构，有利于企业创造更高的价值，对企业有着至关重要的作用。

关键词：利率市场化；资本结构；上市公司

The influence of interest rate marketization on the capital structure of listing Corporation

Summary: in the current economic conditions, financial links, the core of every listed company is to choose the optimal capital structure, changes in interest rates tend to make the change of capital structure changes. This paper using a combination of theory and empirical methods, with Baosteel company data for samples of qualitative and quantitative analysis of the effect of interest rate liberalization on capital structure.

First, interest rates, capital structure, theory of knowledge, and then analyze the current situation of China's interest rate and capital structure, indicators and research on capital structure indices on interest rates, analysis of the relationship between them. Then in Baosteel's listed companies, for example, through the calculation of interest rates to analyze its impact on capital structure. Through data and analysis show that market-oriented interest rate are important factors of capital structure of listed companies and found that changes in interest rates can have a significant impact on capital structure of listed companies. Finally, research on this issue is summarized. Deal with the relationship between interest rates and capital structure, select a sound capital structure, to create greater value, enterprises have a vital role.

Key words: interest rate marketization; capital structure; listing Corporatio

目录

1 绪论......................................................................1

1.1 研究背景及意义........................................................1

1.1.1 研究背景.........................................................1

1.1.2 研究意义.........................................................1

1.2 论文研究的内容、方法..................................................2

1.2.1研究内容..........................................................2

1.2.2研究方法...........................................................2

1.3文献综述..............................................................2

2 理论基础..................................................................4

2.1 利率理论..............................................................4

2.2利率市场化.............................................................5

2.2.1 利率变化对企业的影响.............................................6

2.3 资本结构理论..........................................................8

2.3.1 资本结构的含义...................................................8

2.3.2资本结构的指标....................................................8 2.3.3 资本结构的实质...................................................8

3 利率市场化对资本结构的分析...............................................11

3.1 我国利率现状分析....................................................11

3.2 我国上市公司资本结构的现状分析......................................11

3.2.1 我国上市公司资本结构的特点.....................................11

3.3利率对公司资本结构的影响.............................................12

3.3.1一般情况下，利率变动对资本结构的影响............................12

3.3.2利率对融资成本的影响 ...........................................13

3.3.3 利率对融资结构的影响...........................................14

4 对宝钢公司的实证分析.....................................................16

4.1实证分析..............................................................16

4.2 实证分析总结.........................................................20

5 结论.....................................................................22

参考文献...................................................................23

致谢.......................................................................24

1.绪论

1.1研究背景及意义

1.1.1研究背景