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本文以2010—2012年的环渤海地区上市企业为样本,基于地区差距,实证分析了企业生命周期和制度环境对企业经济后果的影响。回归结果发现,企业生命周期和经济法律环境水平与企业经济后果显著正相关。研究结果表明,生命周期越长的企业以及良好的制度环境可以有效提高企业的每股权益,改善企业的经济后果。
Based on the sample of Bohai Rim Listed Companies from 2010 to 2012, this paper empirically analyzes the impact of the enterprise life cycle and institutional environment on the economic consequences of enterprises based on the regional disparities. The regression results show that the life cycle of the enterprise and the economic legal environment are significantly and positively correlated with the economic consequences of the enterprise. The results show that the enterprises with longer life cycle and good institutional environment can effectively improve the per share of the enterprise and improve the economic consequences of the enterprise.