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产业规模、资本结构与产业绩效之间的关系,涉及到产业经济学与公司金融学两个过去不相关的学术领域。本文对此试图把两者结合起来运用实证的方法分析产业绩效的决定因素,就是从产业行业规模、资本结构来分析产业绩效。通过选择2004年的全部国有及规模以上非国有工业企业作为截面数据进行回归分析,结果是产业投资资本规模与产业绩效呈现负相关,所有者权益项与产业绩效成正相关,产业绩效与工业增加值成正相关。
The relationship between industrial scale, capital structure and industrial performance relates to two academic fields that were not related to industrial economics and corporate finance. This paper attempts to combine the two to use empirical methods to determine the determinants of industrial performance, that is, from the industrial scale of the industry, the capital structure to analyze the performance of the industry. Through the regression analysis of all state-owned and non-state-owned industrial enterprises above designated size in 2004 as cross-sectional data, the result shows that the scale of industrial investment capital is negatively correlated with industrial performance, the owner’s equity is positively correlated with industrial performance, and the industrial performance and industrial added value Into a positive correlation.