摘要
选取了我国沪市制造类,水电煤气供应类,交通运输、仓储类,信息技术类,批发零售类和综合类等六类共648家上市公司,以其2004～2006年连续三年年报数据为依据,基于EVA对其资本结构与经营绩效的关系进行实证分析。研究表明,除水电煤气供应行业外,资本结构与企业绩效为显著负相关关系;企业规模与企业绩效有显著相关关系;股权集中程度与企业绩效无关。
This paper is designed to find out whether the capital structure of sample companies affects their performances. The study chooses 6 industries from Shanghai stock market including manufacturing industry,water electricity and gas supply industry,transportation industry,information industry,retail industry and comprehensive industry （there are totally more than 600 listed-companies in Shanghai stock market ）,based on the financing data from the year 2004 to 2006. We find that capital structure and corporate performance show a significant negative correlation except for water electricity and gas supply industry. Besides,the size of enterprise has a significant relationship with business performance while the concentration of equity has nothing to do with it.
出处
《经济问题》
CSSCI
北大核心
2010年第5期86-90,共5页
On Economic Problems
基金
西安交通大学"985工程"二期项目(07200701)
国家社会科学基金项目(07BJY025)
关键词
经营绩效
资本结构
企业规模
股权集中程度
company performance
capital structure
enterprise size
equity concentration
