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本文基于2011-2013年房地产上市公司财务数据,实证研究了房地产企业资本结构与经营绩效的关系。研究发现,国有股比例对房地产企业的经营绩效存在显著负相关关系,资产负债率与房地产企业的经营绩效存在倒U型关系,长期和短期资本负债率均与房地产企业的经营绩效呈显著的负相关关系。
Based on the financial data of listed real estate companies from 2011 to 2013, this paper empirically studies the relationship between the capital structure and business performance of real estate enterprises. The study found that the proportion of state-owned shares of the real estate business operating performance there is a significant negative correlation between the asset-liability ratio and the real estate business operating performance inverted U-shaped relationship, long-term and short-term debt-to-capital ratio and real estate business operating performance was significantly negatively correlated relationship.