物流业上市企业市场绩效的影响因素研究

Study on Performance Influencing Factors of Listed Logistics Enterprises

从微观的角度来考察物流业的行业绩效以及影响因素。通过搜集整理中国上市公司中归属物流业的公司财务信息,构建企业绩效测度指标,并从财务指标、公司治理指标以及市场信息指标的角度考察影响物流业的市场绩效的因素。结果发现,国有企业和民营企业在绩效影响因素方面存在差别;债务杠杆率对企业绩效为负向效应,财务测度促进了企业的绩效;公司的风险较为显著的降低了企业的绩效;股权制衡对公司的绩效起到了提升作用;企业规模与公司绩效显著正相关。

This paper presents a microscopic view on the factors influencing logistics enterprise performance.Through collecting and analyzing the corporate financial information concerning the logistics enterprises listed in the Chinese stock market,the paper establishes an enterprise performance index system which measures the impact of financial,managerial and information factors upon the market performance of the enterprises and finds that there is spread between state-owned and private enterprises regarding the effects of the factors and that debt leverage and corporate risk exposure are negatively related to enterprise performance and financial measurability,equity balance and enterprise scale are positively so.