“八项规定”对酒类上市公司财务绩效的影响研究

The Impact of the “Eight Regulations" on the Financial Performance of the Listed Liquor Corporations

本文以31家酒类上市公司为样本,检验了"八项规定"出台前后酒类企业的绩效变化情况。研究发现:"八项规定"政策对白酒类企业的营业收入和综合业绩产生了负面冲击,而其他酒类总体销售业绩以及综合财务绩效则呈现上升趋势。贵州茅台的综合财务绩效较过往有了较大程度的下降,一些中低端白酒的营业收入和综合业绩也出现明显的下滑。研究表明"八项规定"取得了明显的成效,国家在扼制"三公消费"方面取得了喜人的成果。

In order to keep down excessive spending on public funds,the central government has made and released a series of policies aiming to ban the abuse of high-end alcohol in official banquets,including the “Eight Regulations”and the alcohol prohibition underscore.This paper uses the method of empirical analysis to compare the specific variance of the sales performance of the wine industry before and after the release of governmental policies,introduce the influences the governmental policies have brought to the industry from whole to parts,and further raise the solutions to problems found in the conduction of the policies.