摘要
财务风险作为石油行业面临的重要风险具有影响全局的作用。采用多元回归分析方法，以我国三大石油公司2001～2013（香港联合交易所）年度财务报告数据为基础，基于现金流视角研究财务风险。实证研究结果表明：经营活动现金流量增长率、投资活动总流入结构比率与财务风险的变化趋势成反比；净利润现金比率、全部现金流量比率、筹资活动总流人结构比率显著影响财务风险。
In recent years, cash flow risk as a significant financial risk to oil companies has attracted much at- tention. The financial data （2001 -2013 ） of Petro China, Sinopec and CNOOC, which are all listed in Stock Ex- change of Hong Kong, are selected in this paper to analysis the financial risk from the point of view of cash flow by using multiple regression analysis. The empirical study shows that, the growth rate of cash flow from operating ac- tivities and the structural ratio of total inflows from investing activities are positively correlated to financial risk, and negatively correlated to the variation trend of financial risk; even though the net profit cash ratio and other factors are limited by the sample capacity, they still have a positive correlation with financial risk.
出处
《经济问题》
CSSCI
北大核心
2015年第6期125-128,F0003,共5页
On Economic Problems
