Research on the Influence of Financial Asset Allocation Ratio on Performance of High-Tech Listed Companies

Zhuang Yujin (), Li Yuju (), Zhao Hengfang () and Chen Jingbo ()
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Zhuang Yujin: Beijing Jiaotong University, School of Economics and Management
Li Yuju: Beijing Jiaotong University, School of Economics and Management
Zhao Hengfang: Beijing Jiaotong University, School of Economics and Management
Chen Jingbo: Beijing Jiaotong University, School of Economics and Management

A chapter in Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), 2022, pp 1425-1433 from Springer

Abstract: Abstract Taking A-share high-tech listed companies in Shanghai and Shenzhen stock markets from 2011 to 2020 as samples, this paper uses factor analysis method to build a comprehensive evaluation model of high-tech enterprise performance from three dimensions: innovation performance, financial performance and market performance, and uses fixed effect panel data regression to empirically analyze the impact of financial asset allocation ratio of high-tech listed companies in China on enterprise performance. It is found that the allocation ratio of financial assets of high-tech listed companies has a significant negative impact on corporate performance. Therefore, high-tech enterprises should rationally allocate the proportion of financial assets, attach importance to R&D investment, and focus more on entity management and R&D innovation, so as to enhance the long-term value of enterprises.

Keywords: High-tech enterprises; Financial assets allocation; Financial performance; Market performance; Innovation performance (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-036-7_211

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DOI: 10.2991/978-94-6463-036-7_211

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