论文题目：上市公司股权融资偏好研究——以互联网行业为例摘要近年来，我国资本市场不断发展完善，在国民经济中，上市公司的地位不断攀升，资产质量、经营行为、公司制度、管理理念等方面都优于我国非上市公司。随着5G时代的到来，上市互联网公司发展势头稳中向好，对影响其融资偏好的因素进行深入研究，有助于提出针对性的改进意见，帮助公司改善融资行为，优化资本结构，提高市场价值。文章首先回顾了国内外上市公司融资偏好影响因素的相关文献，学者们各抒己见，研究成果中的突破性观点缺少，我国上市公司偏好何种融资方式，还未形成统一的结论，并且，目前有关互联网行业上市公司进行融资偏好研究的文献较缺乏。寻找到该研究切入点后，选取我国上市互联网公司进行融资偏好影响因素研究，多元回归结果表明：成长性与股权融资偏好正相关，产权比率、股权集中度、公司规模、盈利能力、营运能力、非债务税盾与股权融资偏好负相关。最后，根据研究结论提出了改进意见。【关键词】互联网行业；资本结构；融资偏好AbstractInrecentyears,China'scapitalmarkethasbeenconstantlydevelopingandgraduallyimproving,andlistedcompanieshavebeengaininginstatusinthenationaleconomy.Theyarebetterthanunlistedcompaniesinassetquality,businessbehavior,corporatesystemandmanagementphilosophy.Withtheadventof5Gera,thedevelopmentmomentumoflistedcompaniesintheInternetindustryisstableandimproving.In-depthresearchonfactorsaffectingtheirfinancingpreferenceishelpfultoputforwardtargetedimprovementSuggestions,helpcompaniesimprovetheirfinancingbehavior,optimizecapitalstructureandincreasemarketvalue.Thisarticlefirstreviewedthedomesticandforeignliteraturesabouttheinfluencefactoroffinancingpreferenceoflistedcompanies,thescholarsviews,resultsofthestudyarelackofbreakthroughpoint,whatkindoffinancingpreferenceoflistedcompaniesinourcountry,alsodidnotformaunifiedconclusion,andcurrentresearchonfinancingpreferenceoflistedcompaniesintheInternetindustryislackofliteratures.Selectiontofindthebreakthroughpoint,theInternetindustryinChinalistedcompaniesfinancingpreferenceresearchinfluencefactors,multivariateregressionresultsshowthatthegrowthispositivelyrelatedtotheequityfinancingpreference,equityratio,equityconcentration,thecompanysize,profitability,operationability,non-debttaxshieldisnegativelyrelatedtotheequityfinancingpreference.Intheend,theoptimizationSuggestionsaregiventhroughtheresearchresults.【Keywords】Internetindustry;Capitalstructure;FinancingpreferencePAGE\*MERGEFORMAT17目录一、引言·····························································1二、上市互联网公司融资结构特征·························