我国电力行业上市公司债务结构与绩效关系研究

发布时间：2018-01-18 10:01

本文关键词：我国电力行业上市公司债务结构与绩效关系研究　出处：《青岛科技大学学报(社会科学版)》2016年01期 　论文类型：期刊论文

【摘要】：电力行业作为国民经济的支柱产业,其营利能力直接影响到国家经济实力。所以分析电力行业的债务结构有利于提高该行业的价值。从债务总水平结构、债务期限结构和债务工具结构三方面研究债务融资结构与企业绩效的关系,结果发现债务总水平、短期债务比例、银行借款比例、商业信用借款比例与企业绩效负相关,而企业债券融资与绩效无显著相关关系。据此提出采取加大企业的内源融资力度、找到企业长短期债务的平衡点、减少政府对商业银行的干预度、控制商业信用贷款比例和发展企业债务市场等措施,提高电力行业上市公司绩效。
[Abstract]:Power industry as a pillar industry of national economy, its profitability directly affects the national economic strength. Therefore, analyzing the debt structure of power industry is conducive to improving the value of the industry. The relationship between debt financing structure and enterprise performance is studied from three aspects: debt maturity structure and debt instrument structure. The results show that the total debt level, short-term debt ratio and bank loan ratio. The proportion of commercial credit loan is negatively correlated with corporate performance, while corporate bond financing has no significant correlation with performance. Therefore, it is proposed to increase the endogenous financing of enterprises to find the balance point of long-term and short-term debt. In order to improve the performance of listed companies in power industry, the government should reduce the degree of government intervention on commercial banks, control the proportion of commercial credit loans and develop the enterprise debt market.
【作者单位】：青岛科技大学财务处;
【分类号】：F426.61;F406.72
【正文快照】： 一、引言Ravid(1985)研究了债务期限结构与企业绩效的关随着我国资本市场的不断发展,企业采取何种系,认为当税率较高时宜增加长期负债的比例,而融资方式显得至关重要。近年来,国内外学者在企当税率较低时短期负债比例的增加才对企业绩效的业融资方式对绩效的影响方面进行了大

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