本文關(guān)鍵詞：我國(guó)電力行業(yè)上市公司債務(wù)結(jié)構(gòu)與績(jī)效關(guān)系研究　出處：《青島科技大學(xué)學(xué)報(bào)(社會(huì)科學(xué)版)》2016年01期 　論文類型：期刊論文

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【摘要】：電力行業(yè)作為國(guó)民經(jīng)濟(jì)的支柱產(chǎn)業(yè),其營(yíng)利能力直接影響到國(guó)家經(jīng)濟(jì)實(shí)力。所以分析電力行業(yè)的債務(wù)結(jié)構(gòu)有利于提高該行業(yè)的價(jià)值。從債務(wù)總水平結(jié)構(gòu)、債務(wù)期限結(jié)構(gòu)和債務(wù)工具結(jié)構(gòu)三方面研究債務(wù)融資結(jié)構(gòu)與企業(yè)績(jī)效的關(guān)系,結(jié)果發(fā)現(xiàn)債務(wù)總水平、短期債務(wù)比例、銀行借款比例、商業(yè)信用借款比例與企業(yè)績(jī)效負(fù)相關(guān),而企業(yè)債券融資與績(jī)效無顯著相關(guān)關(guān)系。據(jù)此提出采取加大企業(yè)的內(nèi)源融資力度、找到企業(yè)長(zhǎng)短期債務(wù)的平衡點(diǎn)、減少政府對(duì)商業(yè)銀行的干預(yù)度、控制商業(yè)信用貸款比例和發(fā)展企業(yè)債務(wù)市場(chǎng)等措施,提高電力行業(yè)上市公司績(jī)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.
【作者單位】： 青島科技大學(xué)財(cái)務(wù)處;
【分類號(hào)】：F426.61;F406.72
【正文快照】： 一、引言Ravid(1985)研究了債務(wù)期限結(jié)構(gòu)與企業(yè)績(jī)效的關(guān)隨著我國(guó)資本市場(chǎng)的不斷發(fā)展,企業(yè)采取何種系,認(rèn)為當(dāng)稅率較高時(shí)宜增加長(zhǎng)期負(fù)債的比例,而融資方式顯得至關(guān)重要。近年來,國(guó)內(nèi)外學(xué)者在企當(dāng)稅率較低時(shí)短期負(fù)債比例的增加才對(duì)企業(yè)績(jī)效的業(yè)融資方式對(duì)績(jī)效的影響方面進(jìn)行了大

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