Study On The Correlation Between Enterprise Assets Structure And Performance

Assets structure directly affects enterprises' debt paying ability, profit ability, risks-avoiding ability and develop potential. Through the study of assets structure, the enterprises can confirm the overall assets ratios when they invest, the appropriate structures should be maintained in process of production; they will also know how to timely change the structures in accordance with the change of business strategies, so as to achieve the purposes of risk controlling, efficiency improving, cost reducing and performance increasing.With the rapid development of world economy and technology, the electronics and telecommunications manufacturing industry has become one of the leading industries of world economy and its development level has become an important indicator of a country's level of modernization and overall national strength. As the electronics and telecommunications manufacturing industry are both capital-intensive and technology-intensive, this paper selects listed companies in this industry as objects in the effort to discover the intrinsic relationship between assets structure and performance.This paper is based on the synthetically analysis of domestic and aboard study results, states the importance and the feasibility of assets optimization combined with the situations of the enterprises; makes inquire to the assets structure's connotation, type and influencing factors; concludes and analyzes the development of enterprise performance evaluation theories. On the basis of these analyses, this paper clarifies the function and mechanism of assets structure to financial performance from the aspects of assets structure's liquidity, occupancy styles and functions, lays a good theoretical foundation for the empirical analysis later.On the other hand, this paper explores the relationship between assets structure and performance by way of empirical studies. First, it takes listed companies of the electronics and telecommunications manufacturing industry as the sample, with statistical analysis soft of SPSS, makes a comparative analysis of assets structure and performance between electronics and telecommunications manufacturing industry and electronics and telecommunications services industry, clarifies the features of listed companies in the electronics and telecommunications manufacturing industry; secondly, this paper studies the correlation between assets structure and performance in electronics and telecommunications manufacturing industry, selects dependent variables, independent variables and control variables with high correlation coefficient to set up multiple linear regression equation; then, tests which include F test, T test, Goodness-of-fit test and Multi-collinearity test are made on significance of the regression equation and regression coefficient; finally, this paper further explains the equation after stepwise regression analysis, and gives suggestions on the management of assets structure optimization, in order to help enterprises achieve the goals of resources rational allocation and performance development.