企业成长理论视域下我国体育上市公司资本结构与绩效的相关性研究

发布时间：2018-06-20 14:35

本文选题：企业成长理论 + 体育上市公司　；参考：《山东大学》2017年硕士论文

【摘要】：伴随我国资本市场的发展,作为第三产业的朝阳产业,近些年体育产业已成为我国城市经济发展的新增长点,体育上市公司是我国体育产业的重要构成部分,其经营绩效必然成为关注的焦点。放眼资本市场,资本的合理经营可以有效引导绩效的提升,与资本结构与绩效相关的研究十分普遍并且已经成为财务金融领域争论的焦点,但是学术界各抒己见,很多研究结论差别很大甚至相悖。出于我国体育上市公司数量少,以及之前出现的财务杠杆混乱的现象,缺乏关于我国体育上市公司资本结构与绩效的研究。因此,本文搜集14家我国体育上市公司2014—2016年的财务数据,基于企业成长理论和资本结构相关理论的同时引入成长性的概念,以期了解我国体育上市公司在市场竞争中所处的位置及未来发展趋势,促进体育上市公司优化资本结构和提高绩效。本文运用文献资料法、数理统计法、逻辑分析法来分析体育上市公司利用SPSS22.0对体育上市公司数据相关数据进行描述性统计、相关性分析和回归分析,分析其成长性并探讨体育上市公司资本结构与绩效之间的关系,得出如下结论:(1)我国体育上市公司数目较少,上市时间较晚且多以香港地区为主。(2)我国体育上市公司未来成长性总体略稳定,但有部分企业成长性呈恶化趋势。(3)我国体育上市公司近几年资本结构处于稳步增长趋势,但是总体较其他行业还是处于较低水平。(4)对于我国体育上市公司,无论是高成长性公司还是低成长性公司与其资本结构不存在显著相关关系。(5)我国体育上市公司成长性,资本结构与绩效的相关性分析中,成长性与绩效呈显著正向影响,资本结构与绩效呈负相关,但显著性存在差异,总的来讲呈正相关。
[Abstract]:With the development of China's capital market, as the sunrise industry of the tertiary industry, the sports industry has become a new growth point of urban economic development in China in recent years, and the listed sports companies are an important part of the sports industry in China. Its management performance must become the focus of attention. Looking at the capital market, the reasonable management of capital can effectively lead to the improvement of performance. The research related to capital structure and performance is very common and has become the focus of debate in financial and financial field, but the academic circles express their own views. Many of the findings differ widely or even contradict each other. Due to the small number of listed sports companies in China and the chaos of financial leverage, there is a lack of research on the capital structure and performance of sports listed companies in China. Therefore, this paper collects the financial data of 14 listed sports companies from 2014 to 2016, and introduces the concept of growth based on the theory of enterprise growth and the theory of capital structure at the same time. In order to understand the position and future development trend of Chinese sports listed companies in the market competition, to promote the sports listed companies to optimize the capital structure and improve performance. This paper uses literature, mathematical statistics and logic analysis to analyze the descriptive statistics, correlation analysis and regression analysis of sports listed companies' data using SPSS22.0. This paper analyzes its growth and discusses the relationship between capital structure and performance of sports listed companies, and draws the following conclusion: (1) the number of sports listed companies in China is relatively small. The future growth of sports listed companies in China is generally stable, but some enterprises have a deteriorating trend of growth. 3) the capital structure of listed sports companies in China has been steadily increasing in recent years. However, there is no significant correlation between high growth companies and low growth companies and their capital structure. In the correlation analysis of capital structure and performance, growth and performance are significantly positive, capital structure and performance are negatively correlated, but there are significant differences, generally speaking, positive correlation.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：G80-05

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