Research On The Correlation Between Enterprise Asset Structure And Business Performance

Capital structure is the source of enterprise capital,the assets structure of enterprises said the whereabouts of the funds,Reasonable capital structure and asset structure can bring the greatest economic benefits.Domestic and foreign scholars study of capital structure is more widely and deeply,this paper argues that,compared with the capital structure,asset structure research has theoretical and practical value,they can create value for the company and to resist the financial risk.Many studies have shown that the assets structure configuration of different industry is different.With the rapid development of global e-commerce,we have entered the network economy era,e-commerce is the inevitable trend of the development of society,E-commerce transactions and traditional trading is very different in form,its asset structure may also have significant differences.Studying on the relationship between the electric business enterprise assets structure and enterprise’s performance will be better able to provide practice guidance for enterprise asset allocation structure,so as to put forward more practical policy suggestions to optimize the structure of corporate assets.The study is of great significance to improve the electric business enterprise competitiveness and promote the healthy development of the business enterprise.Based on this,we hope that through the method of empirical research,this paper build relational model of electricity enterprise assets structure and operating performance to analysis and evaluate the correlation between asset structure and operating performance of the electric business enterprise.According to the empirical analysis conclusion,put forward relevant policy Suggestions to optimize the electric business enterprise assets structure and improve the operating performance.Therefore,the text selects 42 listed electricity companies which listed in shenzhen stock exchange,Hong Kong Exchanges and Clearing Limited and New York Stock Exchange to do empirical analysis.It included 126 samples of financial data during 2013-2015.According to the definition of capital structure,firstly,we choose currency funds ratio,inventory accounting,accounts receivable ratio,the proportion of current assets,the proportion of long-term equity investment,the proportion of fixed assets and the proportion of intangible assets 7 indicators to reflect the electric business enterprise assets structure.Secondly,using factor analysis to extract the profit ability factor,debt paying ability factor,capacity factor and development ability factor four common indicators from the 13 performance indicators to reflect the operating performance of listed companies in electricity industry.Thirdly,carrying on the descriptive statistical analysis on the selected indicators to reflect the listed electricity enterprise assets structure and business performance.Finally,do the correlation analysis and regression analysis on the assets structure and operating performance and put forward the policy and suggestion to optimize the asset structure of commercial enterprises according to the results of the empirical analysis.Through the empirical research of assets structure and operating performance of the business enterprise,this paper draws the following conclusions:the asset structure of listed electricity supplier industry enterprises have a certain influence on its performance,and different assets structure on the impact of business performance is not the same.There is a weak negative correlation between monetary fund proportion and the operating performance of the electronic business enterprise;The proportion of accounts receivable has significant negative correlation relationship with business performance in electricity enterprises;Stock proportion is negatively related to the business performance significantly;Liquidity ratio is negatively related to the business performance weakly;Long-term equity investment proportion is positively related to business performance significantly;Fixed assets proportion and operation performance is significantly negative correlation;Intangible assets ratio is negatively related to the business performance weak.At the end of the paper,according to the present development situation of electric business enterprise and the empirical research conclusion,put forward the corresponding macro and micro policy Suggestions to improve the operation performance of electricity enterprise.