摘要
文章在综合了20个绩效指标信息的基础上,对人民币汇率变动与中国出口企业绩效的关系进行了经验分析。结果表明,人民币汇率对中国出口企业的偿债能力和营运能力具有显著的负向影响,与出口企业的盈利能力之间的关系,因盈利指标的不同而存在差异。更具体地说,人民币汇率与利润及营业收入等绝对指标之间存在显著的负相关关系;但从相对盈利指标看,人民币汇率对提取自销售净利率、营业利润率以及成本费用利润率的主因子变量具有显著正向作用,而对综合了资产报酬率、净资产报酬率以及股本报酬率等指标的主因子变量之间则具有显著负向作用。上述研究对于中国出口企业因应人民币升值、制定定价策略以及中国的贸易政策具有一定的参考价值。
Based on the listed company quarterly panel data and twenty performance indices, the paper conducts an empirical analysis on the correlation between the fluctuation of RMB exchange rate and the performance of Chinese ex-porting enterprises. The result shows that significant negative correlation exists between exchange rate and performance in-dex of exporting enterprises, and from the main factors of performance, there exists a negative correlation between RMB exchange rate and the operational competence and solvency of export enterprises, but the correlation between the exchange rate and exporting enterprises ’ profitability is heterogeneous with the differences of profit indices The paper is of enlight-ening significance for China’s trade policy, Chinese exporting enterprises’ strategy of pricing and how to cope with RMB appreciation.
出处
《南通大学学报（社会科学版）》
CSSCI
2014年第6期133-137,共5页
Journal of Nantong University:Social Sciences Edition
关键词
汇率
出口企业
绩效
盈利指标
exchange rate
exporting enterprise
performance
profit index
