摘要
针对我国零售企业价值评估及价值提升影响因素问题,从企业自由现金流内部构成要素的角度出发,以2009-2018年我国A股零售业上市公司的数据为研究样本,建立多元线性回归模型对其影响因素进行显著性分析。研究结果表明:营运资金对零售企业自由现金流量及企业价值的提升具有最为显著的效果;利润、资本支出等因素影响次之;并提出加强企业营运资金管理、维护适当负债水平及注重企业投资与融资的针对性等策略,以促进我国零售企业的可持续发展。
In view of the influencing factors of value evaluation and value promotion of retail enterprises in China,from the point of view of the internal components of free cash flow of enterprises,taking the data of listed A-share retail companies in China from 2009 to 2018 as research samples,a multiple linear regression model is established to analyze the influencing factors.The results show that working capital has the most significant effect on the improvement of free cash flow and enterprise value of retail enterprises,followed by profit and other factors,and puts forward the targeted strategies of strengthening the management of working capital,maintaining the appropriate debt level and paying attention to enterprise investment and financing,so as to promote the sustainable development of China’s retail enterprises.
作者
赵聪
韩晓晨
ZHAO Cong;HAN Xiaochen(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）》
2019年第6期446-452,共7页
Journal of Liaoning Technical University(Social Science Edition)
基金
辽宁省社科规划基金(L16BGL023)
辽宁省科协科技创新智库项目(LNKX2018-2019C5).
关键词
企业价值
零售业
自由现金流
内部因素
corporate value
retailing
free cash flow
internal factors
