论文标题
一项有关资本结构对印度证券交易所列出的公司盈利能力的影响的研究
A Study on Impact of Capital Structure on Profitability of Companies Listed in Indian Stock Exchange with respect to Automobile Industry
论文作者
论文摘要
当前的研究有助于理解资本结构对印度汽车公司利润的积极和负面影响，通过使用诸如雇用的资本回报率，长期资金回报，净资产回报率，净利润和营业利润和营业利润以及资产回报率等变量。该研究假设ROCE，ROLT和RONW具有积极的效果，GP，OP和ROA对债务股权和利息覆盖率（即公司的资本结构）产生负面影响。同样，该研究证明盈利能力与资本结构变量之间的关系非常重要。通过使用固定效应和随机效应模型来测试该假设，通过考虑17家汽车公司的10年数据（从2010- 2019年开始）。研究结果建议，公司可以使用最佳资本结构来提高其绩效。此外，应建立公平的债务和权益组合，以确保公司保持资本充足性。因此，公司可以满足他们的财务强迫和投资，以承诺有吸引力的回报。
Current research helps in understanding both positive and negative impacts of capital structure on profits of Indian automobile companies by using variables like Return on Capital Employed, Return on Long Term Funds, Return on Net Worth, Gross Profit Margin, and Operating Profit, and Return on Asset. The study hypothesized that RoCE, RoLT, and RoNW have a positive effect and GP, OP and ROA have a negative impact on debt-equity and interest coverage ratios i.e capital structure of the companies. Also, the study proves that the relationship between profitability and capital structure variables is strongly significant. The hypothesis was tested by using fixed effect and random effect models by considering 10 years of data (from 2010-2019) from 17 automobile companies. The result of the study recommends that the firms can improve their performance by using an optimal capital structure. Also, a fair mix of debt and equity should be established to ensure that the firm maintains capital adequacy. Firms can thus be able to meet their financial compulsions and investments that can promise attractive returns.
