文献类型：期刊文献

中文题名：房地产行业上市公司融资结构与公司绩效实证浅析

英文题名：A Study on the Relationship between Corporate Performances and Financing Structures of Listed Companies in Real Estate Industry

作者：刘建国[1];杨卫东[1]

机构：[1]华东理工大学商学院,上海200237

年份：2009

卷号：24

期号：1

起止页码：47

中文期刊名：华东理工大学学报（社会科学版）

外文期刊名：Journal of East China University of Science and Technology：Social Science Edition

收录：国家哲学社会科学学术期刊数据库

语种：中文

中文关键词：融资结构;公司绩效;回归分析

外文关键词：financing structure; corporate performance： regression analysis

摘要：本文运用计量分析方法建立回归模型对2004至2008年度房地产行业上市公司绩效与融资结构关系进行实证研究。实证结果表明,房地产行业上市公司绩效与长期银行信用融资率和财政融资率呈显著正相关关系,公司绩效与股权融资率呈负相关关系。另外,7个自变量对因变量(总资产收益率)的影响从大到小依次为财政融资率,长期银行信用融资率,股权融资率,商业信用融资率,短期银行信用融资率,内部融资率和债券融资率。
Using quantitative analysis method, this paper analyzes the relationship between corporate performances and financing structures of listed companies in real estate industry（2004-2008）by establishing regression model. The results indicates that there is an obvious positive correlation between corporate performances of listed companies in real estate industry and their long-term bank credit financing rate as well as financial financing rate. It also shows that there is a negative correlation between corporate performances of those companies and their equity financing rate. A list of independent variables with influence on the independent variable （return on assets） in a descending order is： financial financing rate, long-term bank credit financing rate, equity financing rate, commercial credit financing rate, short-term bank credit financing rate, internal financing rate as well as bond financing rate.