新疆上市公司绩效与经济增长的关系研究

发布时间：2018-05-26 13:45

本文选题：经济增长 + 公司绩效　；参考：《新疆大学》2013年硕士论文

【摘要】：本文采用1996-2010年新疆上市公司数据和宏观经济数据，基于宏观经济分析框架，先后构建Granger模型和增长模型以考察新疆上市公司与宏观经济间的关系，，结果表明：新疆上市公司增长是经济持续增长的Granger原因；新疆上市公司与宏观经济相背离，且不受公司所有制结构、行业类别和地区经济发展程度的影响，说明新疆经济增长缺乏上市公司层面的微观支持；控制变量人均物质资本和金融发展水平与经济增长呈显著负相关，人力资本、技术投入、对外经济贸易和市场化程度均与经济增长呈显著正相关。进一步研究发现：新疆上市公司绩效与经济增长的关系存在阶段性特征，即2007美国次贷危机之前，新疆上市公司绩效与经济增长的正相关逐渐增强，而危机之后，两者则转变为负相关，主要原因在于危机中政府财政支出削弱了两者的同步效应。
[Abstract]:This paper uses the data of listed companies in Xinjiang from 1996 to 2010 and macroeconomic data. Based on the framework of macroeconomic analysis, this paper constructs Granger model and growth model successively to investigate the relationship between listed companies in Xinjiang and macro economy. The results show that the growth of listed companies in Xinjiang is the Granger cause of sustained economic growth, and that the listed companies in Xinjiang deviate from the macro economy and are not affected by the structure of corporate ownership, industry categories and the degree of regional economic development. It shows that the economic growth of Xinjiang lacks the micro support of listed companies, the per capita material capital and the level of financial development of control variables are negatively correlated with economic growth, human capital and technical input, The degree of foreign economic trade and marketization are significantly positively correlated with economic growth. Further study shows that the relationship between performance and economic growth of listed companies in Xinjiang has stage characteristics, that is, before the subprime mortgage crisis of 2007, the positive correlation between performance and economic growth of listed companies in Xinjiang gradually increased, and after the crisis, The main reason is that the government expenditure in the crisis weakens the synchronization effect between the two.
【学位授予单位】：新疆大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F279.27;F127

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