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Research on the Impact of Capital Structure on Profitability of Listed Sports Industry Companies in China

Received: 8 January 2023     Accepted: 18 February 2023     Published: 24 February 2023
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Abstract

Profitability is an important embodiment of the financial competitiveness and operating performance of enterprises, and the capital structure affects the profitability of enterprises by affecting the solvency and operating ability of enterprises. The optimization of capital structure is the key way to improve the profitability of enterprises. China's sports industry, as an emerging industry, has shown a rapid growth momentum. The total output value of the sports industry has exceeded 3 trillion yuan in 2021, which will play an increasingly important role in promoting economic development. Studying the correlation between the capital structure and profitability of sports enterprises is of great significance to the development of the sports industry. This paper selects 10 A-share listed sports enterprises in China from 2017 to 2021 as the research object, and establishes regression model to empirically analyze the impact of asset structure of sports listed companies on profitability based on the analysis of the financial status of sports listed companies. The research results show that the proportion of current assets, fixed assets and inventory of sports industry listed companies is not significantly related to profitability, while the proportion of monetary capital is positively related to profitability, and the growth rate of total assets also has a positive role in promoting the improvement of corporate profitability. The research results of this paper show that the stronger the liquidity of the assets of sports enterprises and the expansion of the asset scale have an obvious effect on the improvement of the profitability of enterprises, which provides a reference for Chinese sports enterprises to optimize the asset structure and improve the profitability.

Published in Science Innovation (Volume 11, Issue 1)
DOI 10.11648/j.si.20231101.16
Page(s) 33-38
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Sports Industry, Capital Structure, Profitability

References
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[3] 徐丹, 朱莲美, 侯婧.煤炭企业资产、资本结构匹配性与盈利能力关系研究 [J], 中国矿业, 2018, 31 (3), 45-49.
[4] 师慧. 资本结构对盈利能力影响的实证研究 [J], 现代商业, 2015, 24 (26), 76-77.
[5] 谢林海, 蒋胡英. 上市公司资本结构与盈利能力相关性研究——以有色金属行业为例 [J], 商业会计, 2015, 43 (23), 70-72.
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[8] 陈龙. 资本结构对公司绩效影响的实证研究—以电力行业上市公司为例 [J], 会计之友, 2011, 40 (36), 126-128.
[9] 杨远霞. 我国创业板上市公司资本结构与盈利能力相关性研究 [J], 统计与决策, 2013, 38 (3), 171-173.
[10] 刘颖, 周树民, 王传美. 汽车制造企业资本结构对盈利能力的影响研究——基于动态面板数据模型的GMM 估计 [J], 财会通讯, 2018, 43 (17), 37-40.
[11] 陆维红. 资产资本结构的对称性与企业绩效相关性研究 [D]. 合肥: 合肥工业大学, 2013: 35-38.
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Cite This Article
  • APA Style

    Lu Lianju, Zhang Haiying, Feng Yuanhe, Wu Han, Chen Yihang. (2023). Research on the Impact of Capital Structure on Profitability of Listed Sports Industry Companies in China. Science Innovation, 11(1), 33-38. https://doi.org/10.11648/j.si.20231101.16

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    ACS Style

    Lu Lianju; Zhang Haiying; Feng Yuanhe; Wu Han; Chen Yihang. Research on the Impact of Capital Structure on Profitability of Listed Sports Industry Companies in China. Sci. Innov. 2023, 11(1), 33-38. doi: 10.11648/j.si.20231101.16

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    AMA Style

    Lu Lianju, Zhang Haiying, Feng Yuanhe, Wu Han, Chen Yihang. Research on the Impact of Capital Structure on Profitability of Listed Sports Industry Companies in China. Sci Innov. 2023;11(1):33-38. doi: 10.11648/j.si.20231101.16

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  • @article{10.11648/j.si.20231101.16,
      author = {Lu Lianju and Zhang Haiying and Feng Yuanhe and Wu Han and Chen Yihang},
      title = {Research on the Impact of Capital Structure on Profitability of Listed Sports Industry Companies in China},
      journal = {Science Innovation},
      volume = {11},
      number = {1},
      pages = {33-38},
      doi = {10.11648/j.si.20231101.16},
      url = {https://doi.org/10.11648/j.si.20231101.16},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.si.20231101.16},
      abstract = {Profitability is an important embodiment of the financial competitiveness and operating performance of enterprises, and the capital structure affects the profitability of enterprises by affecting the solvency and operating ability of enterprises. The optimization of capital structure is the key way to improve the profitability of enterprises. China's sports industry, as an emerging industry, has shown a rapid growth momentum. The total output value of the sports industry has exceeded 3 trillion yuan in 2021, which will play an increasingly important role in promoting economic development. Studying the correlation between the capital structure and profitability of sports enterprises is of great significance to the development of the sports industry. This paper selects 10 A-share listed sports enterprises in China from 2017 to 2021 as the research object, and establishes regression model to empirically analyze the impact of asset structure of sports listed companies on profitability based on the analysis of the financial status of sports listed companies. The research results show that the proportion of current assets, fixed assets and inventory of sports industry listed companies is not significantly related to profitability, while the proportion of monetary capital is positively related to profitability, and the growth rate of total assets also has a positive role in promoting the improvement of corporate profitability. The research results of this paper show that the stronger the liquidity of the assets of sports enterprises and the expansion of the asset scale have an obvious effect on the improvement of the profitability of enterprises, which provides a reference for Chinese sports enterprises to optimize the asset structure and improve the profitability.},
     year = {2023}
    }
    

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  • TY  - JOUR
    T1  - Research on the Impact of Capital Structure on Profitability of Listed Sports Industry Companies in China
    AU  - Lu Lianju
    AU  - Zhang Haiying
    AU  - Feng Yuanhe
    AU  - Wu Han
    AU  - Chen Yihang
    Y1  - 2023/02/24
    PY  - 2023
    N1  - https://doi.org/10.11648/j.si.20231101.16
    DO  - 10.11648/j.si.20231101.16
    T2  - Science Innovation
    JF  - Science Innovation
    JO  - Science Innovation
    SP  - 33
    EP  - 38
    PB  - Science Publishing Group
    SN  - 2328-787X
    UR  - https://doi.org/10.11648/j.si.20231101.16
    AB  - Profitability is an important embodiment of the financial competitiveness and operating performance of enterprises, and the capital structure affects the profitability of enterprises by affecting the solvency and operating ability of enterprises. The optimization of capital structure is the key way to improve the profitability of enterprises. China's sports industry, as an emerging industry, has shown a rapid growth momentum. The total output value of the sports industry has exceeded 3 trillion yuan in 2021, which will play an increasingly important role in promoting economic development. Studying the correlation between the capital structure and profitability of sports enterprises is of great significance to the development of the sports industry. This paper selects 10 A-share listed sports enterprises in China from 2017 to 2021 as the research object, and establishes regression model to empirically analyze the impact of asset structure of sports listed companies on profitability based on the analysis of the financial status of sports listed companies. The research results show that the proportion of current assets, fixed assets and inventory of sports industry listed companies is not significantly related to profitability, while the proportion of monetary capital is positively related to profitability, and the growth rate of total assets also has a positive role in promoting the improvement of corporate profitability. The research results of this paper show that the stronger the liquidity of the assets of sports enterprises and the expansion of the asset scale have an obvious effect on the improvement of the profitability of enterprises, which provides a reference for Chinese sports enterprises to optimize the asset structure and improve the profitability.
    VL  - 11
    IS  - 1
    ER  - 

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Author Information
  • College of Marxism/College of General Education, Liaoning University of International Business and Economics, Dalian, China

  • College of Marxism/College of General Education, Liaoning University of International Business and Economics, Dalian, China

  • School of Economics, Liaoning University of International Business and Economics, Dalian, China

  • School of Economics, Liaoning University of International Business and Economics, Dalian, China

  • School of Economics, Liaoning University of International Business and Economics, Dalian, China

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