CAJ | 학술논문

文中选取了2007～2011年新增的ST公司作为研究样本，共135家。运用因子分析法评价财务困境企业的财务业绩，然后使用多元线性回归的方法分析政府补助对财务困境企业财务绩效的影响。实证结果显示：政府补助与当期的财务绩效不相关，但对下期的财务绩效呈正相关的关系。因此，政府补助对企业财务绩效的影响有一定的滞后性。
문중선취료2007～2011년신증적ST공사작위연구양본，공135가。운용인자분석법평개재무곤경기업적재무업적，연후사용다원선성회귀적방법분석정부보조대재무곤경기업재무적효적영향。실증결과현시：정부보조여당기적재무적효불상관，단대하기적재무적효정정상관적관계。인차，정부보조대기업재무적효적영향유일정적체후성。
This paper chose 135 special treated companies during from 2007 to 201 1 as the research sample.First,we used factoranalysis method to evaluate the financial performance of the companies which were in financial distress.In addition,multiple linear regression method was applied to analyze the influence of government subsidies on the financial performance of companies in financial distress.The empirical results indicate that there is correlation between the government subsidies and next period's financial performance,rather than the current period.To conclude,there is hysteresis between these two factors.