煤炭企业公司特征与财务绩效相关性的实证研究

An empirical study on the correlation between the characteristics and financial performance of listed coal companies

理清公司特征与财务绩效间的关系,有利于新常态下煤炭企业的对标管理与扭亏增盈。选取了2006-2015年煤炭上市公司的相关数据,在描述统计的基础上,对其公司特征与财务绩效的关系进行了回归分析。研究发现:公司规模与财务绩效显著正相关;公司负债程度与财务绩效显著负相关;在煤炭市场低迷期公司效率和成长性与财务绩效显著正相关;煤炭上市公司多元化程度与财务绩效间并不存在显著的相关关系。

Understanding the relationship between company characteristics and financial performance is conducive to bench-marking management, making up deficits and getting surpluses of coal enterprises under the new normal economic. Selecting relevant data of listed coal companies from 2006 to 2015, after descriptive statistics analyzing, this paper used regression to derive the relationship between corporate characteristics and financial performance. The results showed that company size is significantly positively correlated with financial performance, together with the significantly negative correlation between financial leverage and performance, and the significantly positively correlation between company＇s financial performance and growth in coal market downturn. At the same time, it was found that there is no significant correlation between the diversification degree and financial performance of the listed coal companies.