摘要
上市公司的资本结构与其产品在市场中的竞争能力存在某种关系,正常情况下产品市场竞争的结果表现为公司的市场绩效。因此,资本结构既能影响企业产品市场竞争绩效;而产品市场绩效又反过来影响公司的资本结构的选择。本文通过对我国造纸行业上市公司2005~2009年的面板数据进行实证分析,发现：我国造纸行业上市公司市场绩效与资产结构之间的回归系数为正,但不显著。
Past researches find that firm＇s capital structure will influence its product market competitive performance. In normal cases, the result of product market competition shows the company＇ s market performance. This paper makes an empirical test based on the 2005-2009 panel data of listed company of paper making industry. The outcome shows that there is non-liner relation between firm＇s capital structure and its product market competitive performance.
出处
《湖南商学院学报》
2012年第1期52-55,共4页
Journal of Hunan Business College
关键词
资本结构
产品市场竞争
市场绩效
capital structure
product market
market competitive performance
