家电行业上市公司盈利能力与债务来源结构关系研究  

作　　者：张跃超[1] 

机构地区：[1]平顶山学院经济与管理学院

出　　处：《企业经济》2015年第5期127-131,共5页Enterprise Economy

基　　金：河南省政府决策招标课题"中小企业融资问题研究"(批准号:2011-1091);平顶山市软科学项目"平顶山市科技创新与金融结合现状及对策研究"(批准号:2013R004)

摘　　要：本文以家电行业上市公司为具体研究对象,采用相关财务指标,利用回归分析方法对这些公司的盈利能力和债务来源结构进行检验。结果表明,家电行业上市公司的总资产收益率、净资产收益率、销售净利率等盈利能力指标均与经营负债成正相关关系,与金融负债成负相关关系。基于此,本文认为家电行业上市公司应该结合自身业务特点和资产结构特点,尽量使用经营负债来融资,提高商业信用利用效率;同时,减少金融负债的数量,减少非主营业务对资金的占用,避免金融负债比率上升。只有这样,才能提高家电行业上市公司的盈利能力。This paper lists the household appliance listing corporations as the research objects, adopting the relevant financial indica- tors, and using the regression analysis method to carry out the inspection on profitability and debt source structure of these companies. The results show that profitability indicators including the return on assets, the return on equity, and the sales net margin of the household appliance listing corporations are positively related with operating liabilities, and negatively re- lated with financial liabilities. Based on this, this paper proposes that the home appliance listing corporations should com- bine its own business characteristics with asset structure characteristics, try best to use the operating liabilities, and improve the utilization efficiency of commercial credit. At the same time, they should reduce the number of financial liabilities, reduce the occupation on funds from noncore business, avoid the rising of financial debt ratio, to improve the household appliance listing corporations＇ profitability.

关 键 词：经营负债 金融负债 盈利能力 

分 类 号：F275[经济管理—企业管理]