摘要
以中部地区工业类上市公司2010年年报数据为研究对象,选取资产负债率和长期资本的负债率作为资本结构的代表变量,以每股收益、净资产收益率等指标作为经营业绩的代表变量,采用因子分析和回归分析的方法,对资本结构与经营业绩相关性进行了实证分析。结果表明:资本结构与经营绩效之间呈现出"倒U型"分布关系,企业应该从整体上降低负债规模,调整负债结构,以实现提升经营业绩的目标。
In this paper,we choose central region listed companies of 2010 Annual Report Data for the study,select the asset-debt ratio and long-term capital debt ratio as representative variable in capital structure,earnings per share and return on net assets ratio as representative variable in op- erating performance,apply factor analysis and empirical analysis methods to analysis the correla- tion of capital structure and operating performance. The results show that, the relationship be- tween capital structure and operating performance is showing＂ pour U＂ distribution, enterprise should reduce the debt scale, adjust indebted structure, convert short-term liabilities into long- term liabilities, finish the goal of improving operational performance.
出处
《太原理工大学学报（社会科学版）》
2011年第4期6-9,共4页
Journal of Taiyuan University of Technology(Social Science Edition)
关键词
中部地区上市公司
资本结构
经营业绩
central region listed companies
capital structure
operating performance
