A Study On The Influence Of Asset Structure On Profitability Of Listed Companies In China's Oil And Gas Industry

Oil and gas industry is the basic industry of our country and the pillar industry of production and life.As a large-scale and well managed enterprise in the oil and gas industry,the listed oil and gas enterprises play an important role in opening up the financing path of the oil and gas industry and improving the corporate governance structure.However,with the weakening of the global economy in recent years,the international oil price has continued to drop sharply,and the refining and chemical market is in a downturn.China's economy is facing downward pressure,and the operating income and net profit of almost the whole industry have declined.At the same time,the lack of reasonable resource allocation within the oil and gas enterprises leads to the unreasonable asset structure,and the role of assets in the production and operation of enterprises can not be maximized,which further weakens the profitability of enterprises.Whether the enterprise has a reasonable asset structure means whether the enterprise can continue to carry out normal production and operation activities in the future.If the asset structure of the enterprise is unreasonable,it may hinder the development of the enterprise,affect the profitability of the enterprise,and even lead to the bankruptcy of the enterprise.Therefore,considering the important position of the oil and gas industry in China's economy,this paper takes the oil and gas industry listed companies as samples,trying to quantitatively study the relationship between their asset structure and profitability.Firstly,the financial data released by oil and gas enterprises are used to describe and analyze their asset structure and profitability respectively,and find out the main problems existing in the asset structure of China's oil and gas enterprises;Then,taking 40 oil and gas industry listed companies as samples,this paper selects the proportion of monetary funds,fixed assets,receivables and prepayments,inventory and intangible assets as independent variables,total assets turnover rate,total assets and asset liability ratio as control variables,and return on total assets as dependent variable to reflect profit level A multiple linear regression model is established to test the relationship between asset structure and profitability.The results show that the proportion of monetary capital,the proportion of receivables and prepayments,the proportion of inventory and the asset liability ratio are positively correlated with profitability;the proportion of fixed assets and the turnover rate of total assets are negatively correlated with profitability;the proportion of intangible assets and total assets are not significantly correlated with profitability.Finally,based on the above analysis results,combined with the characteristics and existing problems of China's oil and gas industry,this paper puts forward relevant suggestions for oil and gas enterprises to build a reasonable asset structure and improve their profitability.