| 摘要: |
| 研究新能源汽车这一新兴行业资本结构与企业绩效的相关性有助于该行业的平稳快速发展。选取A股218家新能源汽车企业2013—2017年度数据,以资本结构作为解释变量,同时利用因子分析法对企业绩效各项指标提取主因子,以绩效综合得分作为被解释变量,运用回归模型实证研究两者的相关性。结果表明,新能源汽车企业绩效与资产负债率负相关、与流动负债比率正相关、与前10大股东持股比例负相关。新能源汽车企业应注重优化债务和股权结构、控制流动负债比率、发展多元化的融资方式。 |
| 关键词: 新能源汽车 资本结构 企业绩效 因子分析法 多元线性回归 |
| DOI：10.13216/j.cnki.upcjess.2019.03.0002 |
| 分类号:F275 |
| 基金项目:国家自然科学基金项目(11401585);山东省自然科学基金项目(ZR2017MG17) |
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| Research on Correlation Between Capital Structure and Corporate Performance of New Energy Vehicle Enterprises |
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LIU Guangsheng, WANG Yanan
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(School of Economics & Management, China University of Petroleum(East China), Qingdao, Shandong 266580, China)
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| Abstract: |
| Studying the correlation between capital structure and corporate performance of the new energy automobile industry will help the industry develop steadily and rapidly. The data of 218 new energy automobile companies in A share from 2013 to 2017 are selectedand the capital structure is taken as explanatory variable. At the same time, factor analysis is used to extract the main factors of enterprise performance indicators and the comprehensive score of performance is taken as explanatory variable. Then regression model is used to empirically study the correlation between them. The results show that the performance of new energy automobile enterprises is negatively correlated with the asset-liability ratio, positively correlated with the current debt ratio and negatively correlated with the top ten shareholders proportion. New energy automobile enterprises should focus on optimizing debt and equity structure, controlling current debt ratio and developing diversified financing methods. |
| Key words: new energy vehicles capital structure corporate performance factor analysis multiple linear regression |
