Research On The Influence Of High Speed Railway On Corporate Performance

Business is affected by internal and external results,the effect of both the internal managers and staff efforts,also affected by the external environment,market,traffic.For academic research has been focused on enterprise internal enterprise performance,and to some extent,ignores the external environment as a potential resource may impact on enterprise.Scholars in the study of enterprise performance,enterprise external environment according to day is the study of blind spots.Transportation infrastructure as a enterprise control of external factors,the influence of it for enterprise only as a kind of macro environment,the change may be through affect the multiple or a link of the process of enterprise management and the final effects on business performance.For our country,the modern transportation infrastructure represented by high-speed fast development at present,the relationship between regional become more closely with convenient,mobility,enterprise cooperation,the production configuration and so on also is because of the increase of transport infrastructure and improve and become more efficient.Study the relationship between transportation infrastructure and economic growth has been one of the focus of the scholars.Both short-term investment benefit evaluation of the early studies,and later from the Angle of view of the cost benefit analysis,from the macro aspect research economic growth effect brought by the transport infrastructure,not studied from the microscopic view transportation infrastructure for the specific mechanism of action of economic growth.Based on this,this article will combine ability and enterprise internal environment analysis of corporate performance,and discussed from the Angle of microscopic traffic infrastructure for the specific mechanism of action of economic growth.This paper,by using the taian a-share listed companies in 2008-2015 sample data,after excluding the financial insurance enterprise and missing variable,using the the method of Difference in Difference before and after the opening of high iron through cities,according to the influence of the performance of listed companies,the main draw the following conclusions.First,in a city with high-speed rail traffic,corporate earnings have increased significantly,second,the city is in better economic conditions,corporate performance ascension is obvious;Economically backward regions,opened the high-speed rail,earnings fell instead.Third,the nature of the property right analysis high iron opening influence on corporate performance,the results showed that non-state enterprises are state-owned enterprises,promotion enterprise's performance is significant.In this paper,the research will be China's high-speed rail the macro and micro enterprise behavior via public policy,the effect of the opening of China's high-speed rail inspection,can enrich the performance of enterprise external influencing factors research,and on the impact of transportation infrastructure on micro enterprise behavior theory of literature,has important theoretical and realistic significance.