Author(s)

Zangen Lin ¹, Lan Xiao ², Rudia Lim ³

Affiliation(s)

¹ College of Management and Economics, Tianjin University, Nankai District, Tianjin, China
² School of International Business, Tianjin Foreign Studies University, Tianjin, China
³ College of Liberal Arts, Korea University, Seoul, R. O. Korea

Corresponding Author

Zangen Lin

ABSTRACT

In recent years, with the rapid development of China's national economy, the tourism industry has gradually entered the golden age. However, the performance of the tourism enterprises listed is not satisfactory, the tourism industry is booming, the performance of the tourism industry has not been rapid, in most years, the performance of the tourism industry is not as good as other industries, individual years or even a decline in performance. This paper tries to explore the causes of this phenomenon from the perspective of debt structure, analyzes the relationship between debt structure and corporate performance from the overall structure, date structure and source structure of the debt used Stata software to process data. The empirical results show that the total scale of the tourism listing corporation is negatively related to the performance of the debt. Long term liabilities, short term liabilities and performance of tourism listing corporation are significantly negative correlation. Tourism listing corporation bank loans and performance are significantly negative correlation. Commercial credit and performance are significantly negative. Based on the empirical results, it is concluded the policy suggestions.

KEYWORDS

China's tourism company, Debt structure, Corporate performance, Empirical analysis

CITE THIS PAPER

Zangen Lin, Lan Xiao, Rudia Lim, The Empirical Analysis of Debt Structure and Corporate Performance Based on China's Tourism Company. Tourism Management and Technology Economy (2022) Vol. 5: 71-83. DOI: http://dx.doi.org/10.23977/tmte.2022.050212.

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