旅游上市公司资产结构、资本结构与盈利能力关系的实证研究

An Empirical Study on the Relationship Between Asset Structure,Capital Structure and Profitability of Tourism Listed Companies

以2015-2017年为研究期间,收集34家沪深两市A股旅游上市公司的财务指标作为样本数据,运用因子分析得出盈利能力的综合得分,将其纳入多元线性回归模型深入探讨旅游上市公司的资产结构、资本结构和盈利能力三者之间存在的关系,为其资产结构和资本结构的优化,获利能力的提升提供指导。研究结果显示,旅游上市公司的货币资金比率、流动资产比率、固定资产比率、无形资产比率、产权比率与盈利能力的相关关系是不显著的,资产负债率与盈利能力呈显著负相关的关系。

This paper collects financial indicators of 34 A-share tourism listed companies in Shanghai and Shenzhen stock markets as sample data and uses factor analysis to obtain the comprehensive score of profitability which is included in the multiple linear regression model,taking 2015-2017 as the research period.And this paper discusses the relationship between asset structure,capital structure and profitability of tourism listed companies in depth so as to providing guidance on improving asset structure,capital structure and improving profitability for tourism listed companies.The results show that the correlation between monetary capital ratio,liquidity ratio,fixed asset ratio,intangible asset ratio,equity ratio and profitability of tourism listed companies is not significant.And there is a significantly negative correlation of asset-liability ratio with profitability.