论文部分内容阅读
基于2010-2013年间沪深两市A股上市公司的经验数据,对财务弹性、企业投资和企业绩效三者之间的关系进行实证研究,得出如下结论:第一、财务弹性与企业绩效正相关,即保持财务弹性可以提升企业绩效;第二、财务弹性与企业投资正相关,即保持财务弹性可以促进企业投资支出;第三、企业投资在财务弹性与企业绩效之间存在部分中介效应。
Based on the empirical data of A-share listed companies in Shanghai and Shenzhen stock markets during 2010-2013, empirical research on the relationship between financial flexibility, corporate investment and corporate performance leads to the following conclusions: First, the relationship between financial flexibility and corporate performance is positive Second, there is a positive correlation between financial flexibility and corporate investment. That is, maintaining financial flexibility can promote corporate investment spending. Third, corporate investment has some intermediary effects between financial flexibility and corporate performance.