摘要
选取主营业收入作为门限变量,使用面板门限模型,对医药制造企业财务绩效与影响因素之间的非线性变动关系进行实证研究。基于上市公司的数据研究表明:财务绩效与研发水平和成长能力之间存在显著的门限效应,研发水平与成长能力对财务绩效的影响程度和方向随着主营业收入的变化而变化,呈现非线性关系;流动比率、流动资产周转率与股权集中程度与财务绩效存在显著的正向关系。
This paper selects the main business income as the threshold variable, and uses the panel threshold model to study the non-linear relationship between the financial performance of pharmaceutical manufacturing enterprises and its influencing factors. Based on the data of listed companies, the research results show that there is a significant threshold effect between financial performance and R & D level as well as growth ability. The influencing degree and direction of R & D level and growth ability on financial performance change with main business income, showing a nonlinear relationship. Besides, there is a significant positive relationship between current ratio, current assets turnover as well as the degree of ownership concentration and financial performance.
作者
白敬清
BAI Jing-qing(Maanshan People?s Hospital,Ma'anshan 243000,Anhui,China)
出处
《安徽工业大学学报（社会科学版）》
2019年第4期13-16,共4页
Journal of Anhui University of Technology：Social Sciences
关键词
医药制造企业
财务绩效
面板门限模型
研发费用
成长能力
pharmaceutical manufacturing enterprises
financial performance
panel threshold model
R&D expenses
growth ability
