政府补助影响体育产业上市公司经营绩效嘛?——基于股权集中度的调节效应检验
Does government subsidy affect the performance of listed companies in sports industry?
投稿时间:2020-04-06  修订日期:2020-05-18
DOI:
中文关键词:  体育产业  政府补助  股权集中度  经营绩效
英文关键词:Sports industry  Government subsidies  Ownership concentration  Business performance
基金项目:安徽省社会科学创新发展研究课题重大研究项目(2019ZD005)
作者单位E-mail
吴铖铖 池州学院 1101656995@qq.com 
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中文摘要:
      体育产业作为我国战略性支柱产业之一,其在提升经济总量、改善经济质量及促进社会就业等方面极其重要。以48家体育产业上市公司2011-2018年面板数据作为研究对象,运用固定效应回归方法及调节效应检验研究政府补助与经营绩效之间的关系及股权集中度对上述关系的调节作用。研究发现:(1)政府补助与经营绩效显著正相关且存在一定的滞后效应,政府补助对企业绩效的影响随着时间的积累逐渐增强;(2)股权集中度与经营绩效显著正相关,股权集中度可正向调节政府补助对企业经营绩效的影响。体育产业上市公司应合理利用政府补助的经营绩效提升作用,利用自身资源优势及投资机会以实现健康持续发展。
英文摘要:
      As one of China's strategic pillar industries,sports industry is extremely important in promoting the economic aggregate,improving the economic quality and promoting social employment. In this paper, the panel data of 48 sports industry listed companies from 2011 to 2018 were taken as the research object,and the relationship between government subsidies and business performance and the moderating effect of ownership concentration degree on the relationship were tested by multiple linear regression and moderating effect.The research finds that:(1) there is a significant positive correlation between government subsidies and business performance and there is a certain lag effect. The impact of government subsidies on enterprise performance gradually increases with the accumulation of time;(2) there is a significant positive correlation between ownership concentration and business performance,ownership concentration positively moderates the impact of government subsidies on business performance.The listed companies of sports industry should reasonably take advantage of the role of government subsidies in improving their business performance and make use of their own resource advantages and investment opportunities to achieve healthy and sustainable development.
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