近几年，随着民营经济的发展，民营上市公司的数量也越来越多，已经成为我国证券市场上的一股重要力量。民营企业的上市热潮是不是一种符合其自身发展需要的客观要求？民营上市公司的资本结构有什么特点？反映在其资本结构特点上的股权融资倾向是否合理？民营上市公司的融资绩效如何？是否与企业的资本结构存在着一定的关系？怎样才能促使民营企业更好地利用股权融资？这些问题的回答，不仅有利于民营上市公司更加健康地成长，而且也有利于整个民营经济的发展。 本文以民营经济最为发达的浙江省为研究范围，以浙江现有的民营上市公司为研究对象，通过浙江民营上市公司的资本结构特点和股权融资合理性的分析，对浙江民营企业更好地利用股权融资进行了探讨。全文的内容由以下部分组成：绪论介绍了研究背景及意义、国内外相关研究评述、研究内容及研究方法综述。第二章介绍了国内外资本结构理论研究的成果，分析了浙江民营上市公司资本结构的特点，指出其具有一定的股权融资偏好；然后通过实证研究指出这种偏好具有其现实的合理性以及可行性。第三章运用主成分分析法研究了现有浙江民营上市公司融资的综合绩效，指出其融资绩效优于国有上市公司，并对上市公司融资绩效与公司的资本结构进行了回归分析，证明两者具有较强的相关关系。第四章对浙江民营企业利用各种股权融资途径的机会进行了分析，同时，指出民营企业在股权融资方面还存在的问题。第五章从不同的市场角度提出了一些浙江民营企业股权融资的建议。第六章在前面分析的基础上提出本文的结论。 在观点和理论方面，本文的独立见解表现在： 1. 采用定量和定性相结合的方法，第一次探讨了浙江民营上市公司股权融资偏好的问题。指出，浙江民营上市公司的股权融资偏好，无论从融资需求，还是从融资成本上看，都具有一定的合理性，在现阶段应该鼓励民营上市公司充分利用股权融资。 2．利用统计学和计量经济学主成分分析的研究方法，探讨了浙江民营上市公司融资的综合绩效问题，指出浙江民营上市公司的综合绩效，明显优于国有上市公司，因此，从资源配置的角度，也应该鼓励民营企业上市融资。

In recent years, with the development of private economy, the number of private listed companies has been increased and become an important part of our security market. Is the private enterprises’ demand of going public a beneficial and rational request? Is there any characteristic in the capital structure of private listed company? Is the trend for stock financing reflecting in its capital structure reasonable? What is the financing performance of private listed company? Is there any connection between them? What should be done to make use of stock financing better? The answers to these questions are useful not only to the growth of private listed company, but also to the development of the whole private economy. This thesis focuses on Zhejiang province, the most developed region in private economy, and researches private listed company in Zhejiang. By analyzing the features of capital structure and the rationality of stock financing, it discusses the issue of the utilization of stock financing for private listed company in Zhejiang. The paper includes the following contents: The exordium introduces the research background and significance, the domestic and overseas related theoretic achievement, the main contents and research methods. Chapter Two describes the domestic and overseas outcome of capital structure theory, elaborates the characteristic of capital structure of the private listed company in Zhejiang, indicates that it has a preference for stock financing to a certain extent. Then the paper points out by positive research that this preference is rational and practical in reality. Chapter Three analyzes the general financing performance of existed private listed companies in Zhejiang using the method of PCA (Principal Component Analysis). The result shows the performance of private company is greater than that of state-owned one. Moreover, the paper does a linear regression analysis of financing performance and capital structure and proves the strong correlativity between them. Chapter Four researches the chances of every financing approach for private enterprises in Zhejiang and indicates some deficiencies in the stock financing for private enterprises. Chapter Five puts forward a great number of useful suggestion for enterprises’ stock financing in different markets. Chapter Six provides the conclusions of this paper on the basis of the above analysis. The independent ideas and creativity of this paper are listed as follow: 1. By using both the methods of the quantitative analysis and qualitative analysis, it discusses the issue of stock financing preference for private listed companies in Zhejiang. It indicates the preference of stock financing for private listed companies in Zhejiang is rational no matter by studying the demand or cost. So the private listed companies’ stock financing should be greatly encouraged. 2. By using the methods of statistics and Principal Component Analysis, it discusses the issue of financing performance of private listed companies in Zhejiang, points out the integrated performance of them is obviously better than that of state-owned listed ones. So from the perspective of resource allocation, we also should encourage private enterprises to go public for financing.