中文摘要：

利用2000年12月31日前在沪深交易所挂牌上市的全部A股公司的有关数据，对其债务期限结构与偿债能力进行实证研究。研究发现，上市公司的债务期限偏短，但偿债能力较强，上市公司这种很短的债务期限结构并非是由于其缺乏借入长期债务的能力，而是其主动选择的结果。对这种现象进行了解释。

英文摘要：

An empirical study is made on debt maturity structure and debt paying ability by using data from A- share listed companies in Shanghai and Shenzhen Stock Exchanges before December 31 st, 2000. The results show that the debt maturity of listed companies is short, but their debt paying ability is very strong. This is not caused by their lack of ability in borrowing long -term debt, but due to their active choice to do so. This phenomenon is well explained in the paper.