数智化下公司融资结构优化对绩效提升影响研究——基于传媒上市公司数据的分析  

Research on the Impact of Optimizing Corporate Financing Structure on Performance Improvement under Digitization——Analyses based on data from listed media companies

作　　者：秦琴[1] QIN Qin

机构地区：[1]北京交通大学语言与传播学院

出　　处：《价格理论与实践》2024年第12期167-171,共5页Price:Theory & Practice

基　　金：国家社科基金重点项目“财政货币政策对居民收入作用机理与效应研究”(批准号:23AJY021)

摘　　要：数智化下优化公司的融资结构,对于提升其经营绩效、促进文化产业健康发展具有重要意义。本文利用2009-2023年传媒上市公司数据,对公司融资结构优化与绩效之间的关系进行实证研究。结论表明:内源融资率的提升对上市公司的经营绩效提高有着显著的促进作用,股权融资率和债务融资率的提升对上市公司的经营绩效提高有着显著的抑制作用。这一结论经过稳健性检验后仍然成立。基于上述分析,应充分利用内源融资,发展多元化融资渠道,优化融资结构以提高上市公司绩效,从而推动其数智化转型升级。Optimizing a company’s financing structure under digitalization is of great significance for improving its operational performance and promoting the healthy development of the cultural industry.This article uses data from listed media companies from 2009 to 2023 to empirically study the relationship between optimizing corporate financing structure and performance.The conclusion shows that the increase in internal financing rate has a significant promoting effect on the improvement of operating performance of listed media companies,while the increase in equity financing rate and debt financing rate has a significant inhibitory effect on the improvement of operating performance of listed media companies.This conclusion still holds true after robustness testing.Based on the above analysis,it is necessary to fully utilize internal financing,develop diversified financing channels,optimize financing structure to improve the performance of listed media companies,and promote their digital transformation and upgrading.

关 键 词：数智化转型 传媒产业 融资结构 股权融资 

分 类 号：F27[经济管理—企业管理]