摘要
针对内部资本市场资源配置效率问题,以南岭集团2014-2020年财务数据作为研究对象,利用利润敏感性模型量化内部资本市场资源配置效率,考察南岭集团内部资本市场资源配置效率的影响因素。研究发现:企业内部资本市场资源配置效率与企业规模、多元化程度、股利支付率成正相关,即企业规模越大、多元化程度越高、股利支付率越高,内部资本市场资源配置效率越高。研究结果为提升中国内部资本市场资源配置效率提供参考。
Aiming at the problem of resource allocation efficiency of internal capital market,taking the financial data of Nanling Group from 2014 to 2020 as the research object,the profit sensitivity model is used to quantify the resource allocation efficiency of internal capital market,and the influencing factors of resource allocation efficiency of internal capital market of Nanling Groupare are investigated.The results show that the resource allocation efficiency of internal capital market is positively related to the scale,diversification degree and dividend payout rate of the enterprise,that is,the larger the scale,the higher the diversification degree and the higher the dividend payout rate of the enterprise,the higher the resource allocation efficiency of internal capital market.The results provide a reference for improving the resource allocation efficiency of China’s internal capital market.
作者
张琳若
刘科巡
ZHANG Linruo;LIU Kexun(School of Business Administration,Liaoning Technical University,Huludao 125105,China)
出处
《辽宁工程技术大学学报（社会科学版）》
2021年第6期421-434,共14页
Journal of Liaoning Technical University(Social Science Edition)
基金
辽宁省教育厅社科项目(LJKR0145)
关键词
集团企业
内部资本市场
资源配置效率
企业规模
股利支付率
enterprise groups
internal financial resource allocation efficiency
enterprise scale
enterprise diversification
dividend payout rate
作者简介
张琳若(1995-),女,辽宁鞍山人,硕士研究生,主要从事成本与管理会计方面的研究。
