企业净资产收益率增长影响因素的计量分析——以贵州茅台为例

Econometric Analysis of Factors Affecting the Growth of Net Asset Return in Guizhou Moutai

文章选取贵州茅台为目标企业,以净资产收益率作为关键指标,探究股东财富影响因素.首先,选取衡量企业财务运行状况的指标,构建有关企业净资产收益率的指标体系;其次,运用多元逐步回归分析筛选所选的25个指标,确定7个重要的影响指标;接下来,建立企业净资产收益率增长情况的计量模型,并对结果进行若干检验,分析模型结果;最后,借助通径分析法研究若干要素对净资产收益率的作用途径,并进行总结提出针对性意见.

This paper chooses Moutai in Guizhou as the target enterprise, took the return on net assets as the key index, and explored the influencing factors of shareholders' wealth. Firstly, we selected the indicators to measure the financial performance of enterprises and constructed the index system of the return on net assets of enterprises. Secondly, we used multiple stepwise regression analysis to screen the selected 25 indicators and determine seven important impact indicators. Thirdly, we established an econometric model of the growth of the return on net assets of enterprises and gave the results. Finally, the path analysis method was used to study the effect of some factors on the return on net assets, and the corresponding suggestions were summarized.