A Study on the Relationship between Debt Financing Structure and Income Stability of China's Tourism Listing Companies

2018 5th International Conference on Advanced Composite Materials and Manufacturing Engineering

Wu, Yongkang^1

College of Management, Shanghai University, Shanghai, China^1

关键词: Bank loans;    Debt financing;    Empirical analysis;    Financial data;    Negative correlation;    Performance stability;    Positive correlations;    Scenic spot;   

Others  :  https://iopscience.iop.org/article/10.1088/1757-899X/394/4/042054/pdf
DOI  :  10.1088/1757-899X/394/4/042054

来源: IOP

【 摘 要 】

Taking the financial data of 2011 to 2117 of 26 listed tourism companies as samples, this paper makes an empirical analysis of the relationship between debt financing structure and income stability. The study found that the overall debt ratio of tourism listed companies in China is low and the function of debt financing is not well utilized; the performance stability of tourism listed companies of resources and scenic spots is poor; there is a negative correlation between the asset-liability ratio, long-term debt ratio and bank loan ratio and income stability, and a positive correlation between short-term debt ratio and commercial credit ratio and corporate income stability; there is no significant correlation between financial lease ratio and income stability. Based on the conclusion of this paper, this paper also gives the methods and suggestions to optimize the debt financing structure of tourism listed companies in China in order to improve the income stability.