摘 要
管理费用作为企业运营成本的重要组成部分，对企业财务绩效有着不可忽视的影响。在当前复杂多变的经济环境下，深入探究管理费用与企业财务绩效之间的关系具有重要的理论和现实意义。本研究旨在分析管理费用对企业财务绩效的影响，以期为企业优化管理费用提供理论依据。基于此，选取2010 - 2020年沪深两市A股上市公司为样本，运用多元线性回归模型进行实证研究。研究发现，管理费用与企业财务绩效之间存在显著的负相关关系，即管理费用的增加会降低企业的财务绩效；进一步研究发现，不同规模企业在管理费用对财务绩效影响方面存在差异，大型企业这种负向影响相对较小，而小型企业则更为明显。此外，管理费用中的非人力成本对企业财务绩效的负面影响大于人力成本。本研究创新地将企业规模纳入考量范围，并区分管理费用的不同构成部分分别探讨其影响，丰富了管理费用与企业财务绩效关系的研究内容，为企业合理控制管理费用、提高财务绩效提供了新的思路。
关键词：管理费用 企业财务绩效 多元线性回归
Abstract
Administrative expenses, as a critical component of corporate operating costs, exert a significant influence on financial performance. In the current complex and volatile economic environment, exploring the relationship between administrative expenses and financial performance holds important theoretical and practical significance. This study aims to analyze the impact of administrative expenses on corporate financial performance, providing a theoretical basis for optimizing administrative expenses. To this end, a sample of A-share listed companies in Shanghai and Shenzhen stock markets from 2010 to 2020 was selected, and empirical research was conducted using a multiple linear regression model. The findings reveal a significant negative correlation between administrative expenses and financial performance, indicating that an increase in administrative expenses leads to a decline in financial performance. Further analysis shows that the impact varies across firms of different sizes, with larger firms experiencing a relatively smaller negative effect, while smaller firms exhibit a more pronounced impact. Additionally, non-personnel components of administrative expenses have a more detrimental effect on financial performance compared to personnel costs. Innovatively, this study incorporates firm size into the analysis and distinguishes between different components of administrative expenses, thereby enriching the literature on the relationship between administrative expenses and financial performance and offering new insights for enterprises to reasonably control administrative expenses and improve financial performance.
Keyword:Management Expenses Corporate Financial Performance Multiple Linear Regression
目 录
引言 1
1管理费用的构成与分类 1
1.1管理费用的基本概念 1
1.2管理费用的主要构成 2
1.3管理费用的分类标准 2
2管理费用对企业盈利能力的影响 3
2.1盈利能力指标分析 3
2.2管理费用对净利润的影响 3
2.3成本控制与利润增长的关系 4
3管理费用对企业运营效率的影响 4
3.1运营效率的衡量指标 5
3.2管理费用对资产周转率的影响 5
3.3人力成本与运营效率的关系 6
4管理费用对企业财务风险的影响 6
4.1财务风险的评估方法 6
4.2管理费用对偿债能力的影响 7
4.3管理费用对现金流稳定性的影响 7
结论 8
参考文献 10
致谢 11
管理费用作为企业运营成本的重要组成部分，对企业财务绩效有着不可忽视的影响。在当前复杂多变的经济环境下，深入探究管理费用与企业财务绩效之间的关系具有重要的理论和现实意义。本研究旨在分析管理费用对企业财务绩效的影响，以期为企业优化管理费用提供理论依据。基于此，选取2010 - 2020年沪深两市A股上市公司为样本，运用多元线性回归模型进行实证研究。研究发现，管理费用与企业财务绩效之间存在显著的负相关关系，即管理费用的增加会降低企业的财务绩效；进一步研究发现，不同规模企业在管理费用对财务绩效影响方面存在差异，大型企业这种负向影响相对较小，而小型企业则更为明显。此外，管理费用中的非人力成本对企业财务绩效的负面影响大于人力成本。本研究创新地将企业规模纳入考量范围，并区分管理费用的不同构成部分分别探讨其影响，丰富了管理费用与企业财务绩效关系的研究内容，为企业合理控制管理费用、提高财务绩效提供了新的思路。
关键词：管理费用 企业财务绩效 多元线性回归
Abstract
Administrative expenses, as a critical component of corporate operating costs, exert a significant influence on financial performance. In the current complex and volatile economic environment, exploring the relationship between administrative expenses and financial performance holds important theoretical and practical significance. This study aims to analyze the impact of administrative expenses on corporate financial performance, providing a theoretical basis for optimizing administrative expenses. To this end, a sample of A-share listed companies in Shanghai and Shenzhen stock markets from 2010 to 2020 was selected, and empirical research was conducted using a multiple linear regression model. The findings reveal a significant negative correlation between administrative expenses and financial performance, indicating that an increase in administrative expenses leads to a decline in financial performance. Further analysis shows that the impact varies across firms of different sizes, with larger firms experiencing a relatively smaller negative effect, while smaller firms exhibit a more pronounced impact. Additionally, non-personnel components of administrative expenses have a more detrimental effect on financial performance compared to personnel costs. Innovatively, this study incorporates firm size into the analysis and distinguishes between different components of administrative expenses, thereby enriching the literature on the relationship between administrative expenses and financial performance and offering new insights for enterprises to reasonably control administrative expenses and improve financial performance.
Keyword:Management Expenses Corporate Financial Performance Multiple Linear Regression
目 录
引言 1
1管理费用的构成与分类 1
1.1管理费用的基本概念 1
1.2管理费用的主要构成 2
1.3管理费用的分类标准 2
2管理费用对企业盈利能力的影响 3
2.1盈利能力指标分析 3
2.2管理费用对净利润的影响 3
2.3成本控制与利润增长的关系 4
3管理费用对企业运营效率的影响 4
3.1运营效率的衡量指标 5
3.2管理费用对资产周转率的影响 5
3.3人力成本与运营效率的关系 6
4管理费用对企业财务风险的影响 6
4.1财务风险的评估方法 6
4.2管理费用对偿债能力的影响 7
4.3管理费用对现金流稳定性的影响 7
结论 8
参考文献 10
致谢 11
