| 零售业上市公司融资结构与经营绩效研究 |
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| 引用本文： | 彭晖,王云涛. 零售业上市公司融资结构与经营绩效研究[J]. 商业研究, 2011, 0(6): 100-105 |
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| 作者姓名： | 彭晖 王云涛 |
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| 作者单位： | 1. 西安交通大学经济与金融学院,西安,710061
2. 厦门大学经济研究所,福建厦门,361005 |
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| 基金项目： | 国家自然科学基金项目《基于COSO内部控制与风险管理整合框架的上市公司财务危机实时预警系统风险研究》,项目编号:70772110 |
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| 摘 要： | 根据零售业A股上市公司2005-2008年间公开披露的财务信息,对融资结构与经营绩效的关系进行实证分析,研究表明我国零售业上市公司存在着资产负债率较高、偏好于债权融资等结构性特征;同时发现公司内源融资对经营绩效具有积极的正面治理效应,而股权融资的效率较低,股权融资率、股权集中度和企业经营绩效之间表现为负相关性。在债权融资结构中,商业信用融资对经营绩效具有显著的促进作用,但是银行信用对企业绩效具有显著的限制作用。
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| 关 键 词： | 零售业上市公司 融资结构 经营绩效 |
Analysis of the Financial Structure and Company Performance of the List Companies in Retail Enterprises |
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| PENG Hui,WANG Yun-tao. Analysis of the Financial Structure and Company Performance of the List Companies in Retail Enterprises[J]. Commercial Research, 2011, 0(6): 100-105 |
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| Authors: | PENG Hui WANG Yun-tao |
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| Affiliation: | 1.School of Economics and Finance of Xi′an Jiaotong University,Xi′an 710061,China;2.The Economics Reasearch Institute of Xiamen Universtiy,Xiamen 361005,China) |
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| Abstract: | In this paper,we select publicly disclosed financial information of the retail A-share listed companies between 2005-2008 and make described analysis about financial structure and empirical analysis on the relationship between financial structure and company performance of the selected.According to the analytical results,we draw the conclusions that the retail listed companies in China have the structural characteristics of high asset-liability ratio,preferring to claims financing,and sources of financing h... |
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| Keywords: | retail listed companies finacncial structure company performance |
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