论文总字数：26139字

目 录

摘要 4

Abstract 5

1.绪论 6

1.1背景 6

1.2意义 6

1.3文献综述 7

1.3.1政府补助对企业的帮助 7

1.3.2政府补助存在的问题 7

1.3.3影响政府补助的因素 8

1.3.4文献评述 8

1.4研究内容及方法 8

1.4.1研究内容 8

1.4.2研究方法 9

1.5可能创新点 9

2.相关概念及理论基础 9

2.1.相关概念鉴定 9

2.1.1政府补助 9

2.1.2企业业绩 9

2.1.3消费行业 10

2.2.相关理论 10

2.2.1软预算约束理论 10

2.2.2博弈论 10

2.2.3外部性理论 10

2.2.4寻租理论 11

3.政府补助与企业业绩的设计研究 11

3.1提出假设 11

3.2变量选择与界定 12

3.2.1被解释变量 12

3.2.2解释变量 12

3.2.3控制变量 12

3.3样本选取与模型建立 13

3.3.1样本选取 13

3.3.2模型建立 13

4.政府补助与企业业绩相关性实证分析 13

4.1描述性统计结果及分析 13

4.1.2消费者非必需品行业样本公司各变量描述性统计 15

4.1.3消费者常用品行业和消费者非必需品行业对比 16

4.2相关性分析 17

4.3多元回归分析 18

4.3.1政府补助对消费者常用品行业的影响 18

（二）政府补助与净资产收益率的相关性分析 19

4.3.1政府补助对消费者非必需品行业的影响 20

（一）政府补助与每股收益的相关性分析 20

（二）政府补助与净资产收益率的相关性分析 21

5.研究结论及政策意见 22

5.1实证结果 22

5.1.1政府补助与消费行业上市公司每股收益显著负相关 22

5.1.2政府补助对消费者非必需品行业上市公司业绩的影响更显著 23

5.2对策意见 23

5.2.1出台相关系统性补助管理政策 23

5.2.2积极调整和优化产业结构 23

5.2.3避免盲目补助 23

6.局限性及研究展望 24

参考文献 24

致谢 26

政府补助与上市企业经营业绩相关性研究

——以消费行业为例

曹力

，China

Abstract: With the rapid development of the socialist market economy in the new period, China’s socio-economic situation is undergoing great changes. The situation of the common development of multiple ownership economies has been formed and gradually improved. The development of enterprises directly affects the economic conditions of the society, and then affects public security. Government subsidies, as a lever to control the economy, play an important role in remedying market defects, implementing national policies, adjusting the structure of supply and demand, and promoting social equity. . From the study, it is found that the government's subsidies to different industries vary greatly, and not all the businesses of the subsidized industries are positively related to the government subsidy. This article begins with the government subsidy situation of listed companies in China, and conducts in-depth and comprehensive analysis of the relationship between corporate performance and government subsidy. Through collecting and screening you for the data needed in the empirical study, you select a three-year sample of a listed company in the consumer industry from 2014 to 2016 to study, and use scientific mathematical methods to study the relationship between the variables one by one. : Government grants are significantly negatively correlated with earnings per share of listed companies; government grants have a more significant effect on the alternative consumer industry. Finally, based on the results obtained from the study, relevant suggestions were made for government departments and enterprises themselves. The research in this article deepens our understanding of the relationship between government subsidies and the performance of listed companies, and provides reference for the effectiveness of government support policies.

Keywords: government grants, corporate performance, consumer industry

1.绪论

1.1背景

近几年，随着我国经济体制改革的不断推进，国家、政府、市场面临着越来越多的挑战需要解决，而想要稳步推进经济体制改革，处理好政府与市场的关系是关键。从企业自身发展需求来看，政府提供的支持有利于企业在行业扎根，有助于企业将自身利益达到最大化。从政府层面来看，企业的稳定发展不仅可以促进当地的经济，更重要的是实现全社会的平稳和谐发展。因此，政府和企业两者之间是相辅相成、互相促进的关系。

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