我国传媒上市企业资本结构与公司绩效关系的实证研究

资本市场的大幅膨胀,传媒企业竞相上市,中国传媒行业掀起一波融资热潮。以我国的传媒行业2007～2009年数据为研究样本对我国传媒上市企业资本结构与公司绩效关系进行实证研究,结果表明,我国传媒业的资本结构与企业绩效之间存在负相关关系,此外,模型中加入的控制变量中股权集中度、公司成长性、资产流动性以及股权流动性与资本结构存在显著的线性相关性。

An Empirical Study on the Relationship between Capital Structure and Corporate Performance or China's Listed Media Companies

With the explosion in the capital market, media companies are competing to list, then China set off a wave of media industry finance boom. In this paper, based on 2007 to 2009 China''s media industry data, and empirical study of the relationship between capital structure and corporate performance of china''s listed media companies has been done. The results show that: the relationship between capital structure and corporate performance in China''s media Companies is a negative correlation. In addition, there is a significant linear correlation by adding the control variables such as ownership concentration, the company''s growth, liquidity and liquidity, equity liquidity, and capital structure in the model.