矿业企业债务融资结构对财务绩效的影响  

The Impact of the Debt Financing Structure of Mining Enterprises on Financial Performance

作　　者：刘倩 王继红[1] LIU Qian;WANG Jihong(School of Accounting,Jilin University of Finance and Economics,Changchun 130117,China)

机构地区：[1]吉林财经大学会计学院,吉林长春130117

出　　处：《矿业工程研究》2023年第1期72-78,共7页Mineral Engineering Research

摘　　要：债务融资是矿业企业的重要资金来源方式,合理利用债务融资有利于企业财务绩效的提高.为帮助矿业企业改善债务融资结构以实现更多财务绩效,以183家矿业上市公司2012年—2020年的财务数据为样本,首先通过因子分析法得到衡量财务绩效的综合指标,进而构建非平衡面板数据;然后通过实证研究分析债务总体水平、长短期债务和不同来源的债务对财务绩效的影响,结果表明债务总体水平、长期负债及银行借款会对财务绩效的提高起到抑制作用,短期负债及商业信用会对财务绩效的提高起到促进作用;最后依照研究结果,对矿业企业调整债务融资结构改善财务绩效提出对策,最终达到推动矿业转型升级、实现绿色发展的目的.Debt financing is an important source of funds for mining enterprises,and the rational use of debt financing is conducive to improving the financial performance of enterprises.To help mining enterprises improve their debt financing structure to achieve more financial performance,this paper takes the financial data of 183 mining listed companies from 2012 to 2020 as a sample.It first obtains comprehensive indicators to measure financial performance through factor analysis,then it constructs non-equilibrium panel data,and analyzes the impact of overall debt level,long-term and short-term debt,and debt from different sources on financial performance through empirical research.Results show that the overall level of debt,long-term liabilities and bank borrowings will inhibit the improvement of financial performance,but short-term liabilities and business credit will contribute to improve financial performance.Finally,according to the research results,countermeasures are put forward for mining enterprises to adjust the debt financing structure and improve their financial performance,ultimately achieve the purpose of promoting the transformation and upgrading of mining industry and achieving green development.

关 键 词：矿业 债务融资 财务绩效 影响 

分 类 号：F407.1[经济管理—产业经济]