酒店及餐饮类上市公司企业价值与财务业绩的实证研究

An Empirical Study on the Enterprise Value and Financial Performance of Listed Hotel and Catering Companies

文章以目前我国证券市场上市的10家酒店及餐饮类公司为研究对象,应用面板数据模型,发现此类上市公司财务业绩与企业价值之间存在着显著的关联性,并且部分财务指标对企业价值具有显著影响。这一研究结果对酒店、餐饮企业的财务及经营管理,对投资者的投资决策,以及对我国证券市场的建设与发展具有一定的参考价值。

The paper,with currently ten listed hotels and catering companies in China＇s security market as study object and by adopting panel data model,finds that there exists significant interrelationship between financial performance of these listed companies and enterprise value and part of financial indexes have significant impact on enterprise value.The result of this study is of certain referential value to the financial and operational management of hotels and catering businesses and to the investing decision-making of investors as well as the construction and development of China＇s security market.