国内关于轻资产企业的资本结构与财务绩效关系的研究起步较晚，且多以定性分析为主。本文通过选取2020-2022年1911家制造业轻资产上市公司共5733个样本数据作为研究对象，运用stata16软件进行多元线性回归分析。从股权集中度、股权制衡度、债权整体结构、债权期限结构四个方面分别研究其与公司财务绩效的关系。得出如下结论：股权集中度和股权制衡度与财务绩效显著正相关；资产负债率和长期负债率与财务绩效显著负相关，并在此基础上提出了优化资本结构以提高财务绩效的建议。

The research on the capital structure and financial performance of light asset enterprises in China started relatively late, and most of it was based on qualitative analysis. In this study, we selected 1911 light asset manufacturing listed companies from 2020 to 2022 with a total of 5733 sample data as the research object, and used Stata16 software to conduct multiple linear regression analysis. We studied the relationship between these companies' capital structure and financial performance from four aspects: shareholder concentration, shareholder balance, overall debt structure, and debt maturity structure. The conclusions are as follows: shareholder concentration and shareholder balance are significantly positively correlated with financial performance; the asset liability ratio and long-term debt ratio are significantly negatively correlated with financial performance. Based on these findings, we offer suggestions on optimizing capital structure to improve financial performance.