创业板上市公司债务期限结构影响因素研究——来自创业板的经验数据

实证研究了创业板上市公司债务期限结构影响因素，分析了研究结果，阐述了以下论点：公司规模、流动性状况、资产期限、应收账款周转率和销售费用规模与债务期限结构正相关．资产减值规模与债务期限结构负相关；资本充足率和现金流量对债务期限结构影响不显著；由于创业板上市公司所处成长阶段的经营特点．造成应收账款周转率和销售费用规模对债务期限结构的影响．与主板上市公司相反。

Research on Factors of Influencing Debt Maturity Structure of Listed Company of Growth Enterprise Market

The author empirically studied influencing factors of the GEM Listing corporate debt maturity structure, analyzed the results and expounded the following arguments： company size, liquidity position, the duration of its assets, accounts receivable turnover ratio and the scale of cost of sales and debt maturity structure, a positive correlation impairment of assets size and maturity structure of debt negatively correlated; capital adequacy ratio and cash flow had no significant impact on the debt maturity structure; GEM listed company in which the operating characteristics of the growth stage, resulting in the accounts receivable turnover ratio and the size of the cost of sales the impact of debt maturity structure, contrary to the main board listed companies.