摘要:当前，我国的环保行业正处于快速发展的阶段。随着经济发展和我国面临的环保问题，环境保护和环保业的发展受到国家的高度重视和政策支持。由于我国上市公司所处的特殊经济环境，以及有些上市公司一些不规范的经营运作。同时，现有资本结构对业绩影响所得结论的博弈，研究我国环保行业上市公司资本结构与业绩之间的关系变得尤为必要。本文以统计学和经济学为理论基础，以环保行业为研究对象，对我国上市公司的资本结构与业绩的关系进行探讨，在研究过程中结合了统计分析法和数学方法、以及定量分析法和实证研究法相结合的研究方法，对样本和相关变量进行搜集，提出研究假设，建立资本结构与公司业绩的模型，运用经济计量软件Eviews5.0分析研究我国环保行业上市公司资本结构和业绩之间的关系。结论发现：我国环保行业上市公司的资本结构和公司业绩存在负相关关系，并存在资产负债率较低、股权较为集中的特点。

关键词 资本结构；公司业绩；实证分析

Abstract:At present, the environmental protection industrial listed company of our country is in rapidly developing stage. With the rapid development of our economy and the unprecedented environmental challenge faced with our country, environmental protection and the development of the environmental protection industry has gained more attention from society and policy support. Since listed companies in China's special economic environment, and there were inconsistent results between the capital structure and performance of the listed companies. Research on relationship between capital structure and performance of listed companies of the environmental protection industry is makes sense. The thesis based on the theory of statistics and economics, using qualitative analysis, quantitative analysis and empirical analysis and combining methods to research. The paper introduces the sample selecting process, data sources and each kinds of variable’s definition in detail, and proposes research hypotheses of this paper. Use the econometrics model 5.0 to discuss the relationship between capital structure and performance of listed companies of the environmental protection industry. The Conclusion shows that correlation between capital structure and performance of the environmental protection industry listed companies is negative correlation, and lower asset-liability ratio, stock right relatively collective.

Keywords   Capital structure   Performance of the company   Empirical study