中国体育产业上市公司营运资金结构对企业绩效的影响——基于对我国17家体育产业上市公司的实证研究

Influences of Working Capital Structure of China's Sports Industry Listed Company on Performance of Enterprises——A Case Study of 17 Sports Industry Listed Companies

选取国内17家体育产业上市公司作为研究样本,采用多元数理统计分析方法,就2010、2011年我国体育产业上市公司营运资金结构对企业绩效的影响进行了实证研究。实证结果显示:流动资产比、流动资产周转率与体育产业上市公司的绩效水平呈显著正相关;而流动负债比、流动比率和公司的绩效水平则呈显著负相关;现金流动负债比、公司规模与企业绩效水平存在正相关关系,但未通过显著性检验。总体来看,营运资金结构对我国体育产业上市公司绩效的影响是比较明显的,且营运资金结构对公司绩效影响的多元回归模型是非常显著的,其拟合效果和解释能力均较好,多元回归方程具有较强的理论与实践意义。最后,根据研究结果,针对进一步提高我国体育产业上市公司的绩效水平,提出了相应的对策建议。

Seventeen sports industry listed companies were selected in searching into the influences of working capi- tal structure on business performances in 2010 and 2011. It showed that current assets, current assets turnover and the sports industry listed company＇ s performance level were positively correlated while current liabilities ratio, while current ratio and performance level was negatively correlated. Cash flow-to-liabilities ratio, companies scale and business performance level was positively correlated. However, it did not pass the test of significance. On the whole, influences of the working capital structure were obvious and multiple regression model of the working capital structure on firm performance was significant. Fitting results and interpretation was good. Multiple regression equa- tion was beneficial for theory and practice.