我国旅游上市公司无形资产对经营绩效的贡献度研究

文章基于14家旅游上市公司2001～2009年度的相关财务数据，通过建立多元回归模型，研究旅游上市公司无形资产与经营绩效的相关性，并引入虚拟变量比较了酒店类、景区类、综合类旅游上市公司无形资产对经营绩效的贡献度。研究结果表明：旅游上市公司无形资产对经营绩效的贡献是显著的、正向的；无形资产对经营绩效的贡献度远高于固定资产；酒店类、景区类、综合类旅游上市公司无形资产对经营绩效的贡献度具有显著差异；酒店类高于综合类和景区类；综合类高于景区类，但在统计上不显著。并结合实际分析原因，最后提出有针对性的建议。

Study on the Contribution of Intangible Assets to Operating Performance in China's Tourism Listed Companies

Based on the relevant financial data of 14 tourism listed companies from 2001 to 2009 and by establishing multi- regression model, the paper studies the correlation between intangible assets and operating performance and compares contributions to operating performance among three types hotel type, scenic spot type and comprehensive type by introducing dummy variables. The study results indicate that the contribution of intangible assets to operating performance is significant and positive and their contribution is far greater than that of fixed assets. There exist distinct differences among hotel type, scenic spot type and comprehensive type in terms of their contributions to operating performance. Hotel type is higher than comprehensive type and scenic spot type while comprehensive type is higher than scenic spot type, but it is not statistically significant. Finally, corresponding suggestions are put forward through combining with the practical analysis of reasons.