摘要
本文从实证角度分析了我国上市公司的财务杠杆对公司业绩的影响。结果表明,往年财务杠杆和当年财务杠杆对当年公司业绩的影响截然相反。财务杠杆对公司的息税后收益和息税前收益均有影响。长期负债率和长期借款率对公司业绩的影响分别比同年的流动负债率和短期借款率对公司业绩的影响效应小得多。
This article analyzes the impact of the financial leverage on the performance of Chinas Listed Company from the point of empirical study.The study shows the impact of the financial leverage on a company in the previous years is completely different from that of the leverage in the present year.It also shows that the impact of the financial leverage on both net income and EBIT.The impact of longtern debt and longterm borrowing to total assets ration on a company performance is less significant than that of current debt and shortterm borrowing to total assets ratio respectively.
出处
《华东经济管理》
2003年第1期139-142,共4页
East China Economic Management
