摘要
本文选取我国2014-2016年度189家企业集团财务公司为研究样本,运用DEA模型测算其资金使用效率,然后通过基于面板数据的Tobit模型进一步分析多元化经营、资金集中度和成立年限等因素对财务公司资金使用效率的影响。研究结果表明:公司成立年限、公司规模等对财务公司资金使用效率有显著的正向影响,人均GDP、流动比率等对财务公司资金使用效率的提高有负向影响,而多元化经营战略对资金使用效率并无显著影响。
With financial companies of 189 Chinese conglomerates from 2014 to 2016 as the research subjects,this article uses DEA(Data Envelopment Analysis)Model to calculate their fund use efficiency and uses the Tobit Model on basis of panel data to further analyze the impacts of diversification,fund concentration and period of the company’s existence on such efficiency.It finds that such efficiency is positively correlated to period of the company’s existence and company size and is just the opposite to the GDP per capita and current ratio,while it is not obviously correlated to the diversification.
出处
《中国注册会计师》
北大核心
2019年第4期66-69,3,共5页
The Chinese Certified Public Accountant
