The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board

Shengrui Pang

doi:10.47297/wspdecWSP2515-797315.20250906

PDF
导出
分享
收藏
专辑

The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board

9卷第6期

浏览量: 0 Downloads: 0

The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board
The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board
Zhejiang University of Finance and Economics Dongfang College, Hangzhou, Zhejiang, 314408, China
2025年9卷第6期页码：76-81
纸质出版日期：2025-06-30
DOI：10.47297/wspdecWSP2515-797315.20250906
Accepted：

Scan QR Code

(2025). The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board. 发展经济学, 9(6), 76-81.

Pang Shengrui.The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board[J].Development Economics of China,2025,09(06):76-81.
(2025). The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board. 发展经济学, 9(6), 76-81. DOI： 10.47297/wspdecWSP2515-797315.20250906.

Pang Shengrui.The Impact of Financial Leverage on Corporate Profitability : An Empirical Analysis Based on Real Estate Listed Companies on Shenzhen Main Board[J].Development Economics of China,2025,09(06):76-81. DOI： 10.47297/wspdecWSP2515-797315.20250906.

摘要

Abstract

This study employs panel data from Shenzhen Main Board real estate listed companies spanning 2021-2024 to empirically analyze the impact of financial leverage on profitability. Using the logarithm of return on assets (lnROA) as the dependent variable and the logarithm of leverage (lnLeverage) as the core independent variable

we incorporated firm size (Size) and capital intensity (Capital Intensity) as control variables to construct a multiple linear regression model. The analysis conducted using SPSS reveals a significant positive correlation between financial leverage and profitability

indicating that increased leverage levels paradoxically enhance earnings performance within this sample. Notably

neither firm size nor capital intensity demonstrated significant explanatory power for profitability

suggesting their explanatory significance remains limited at the current stage of analysis.

关键词

Keywords

references

Hu Renkun . An Empirical Study on the Impact of Capital Structure of Listed New Energy Vehicle Companies on Corporate Performance - Based on 124 listed companies [J ] . Journal of Shandong Vocational College of Commerce , 2024 , 24 ( 02 ): 8 - 14 .

Wang Jing and Zhang Yue . Analysis on the relationship between capital structure and profitability - An empirical study based on listed companies in the real estate industry [J ] . Dongyue Luncong , 2015 , 36 ( 02 ): 140 - 146 .

Liao Xueying . Research on the Impact of Capital Structure of Listed Companies on Financial Performance [J ] . China Management Informatization , 2024 , 27 ( 19 ): 13 - 16 .

Luting Ting . Research on the Impact of Financial Leverage in Futures Companies on Profitability [J ] . Journal of Economics , 2024 ( 11 ): 94 - 95+98 .

Ma Juanying and Zhang Lianyao . Analysis on the Impact of M Company's Capital Structure on Enterprise Performance [J ] . Investment and Entrepreneurship , 2024 , 35 ( 04 ): 142 - 144 .

Liu Yu , Sun Mingzhen , Wei Jinghong , et al . Research on the Impact of Capital Structure of Agricultural Listed Companies in China on Financial Performance [J ] . Accounting Friends , 2024 ( 07 ): 32 - 39 .

Dao , Binh Thi Thanh , and Tram Dieu Ngoc Ta . " A meta-analysis: capital structure and firm performance ." Journal of Economics and Development 22.1 ( 2020 ): 111 - 129 .

Tudose , Mihaela Brîndusa . " Capital structure and firm performance ." Economy Transdisciplinarity Cognition 15.2 ( 2012 ): 76.

Zhang Xuechun . Research on the Impact of Capital Structure on Operating Performance of Listed Pharmaceutical Manufacturing Companies in China [J ] . Journal of Modern Business , 2024 , ( 21 ): 129 - 131 .

Xu Li and Wang Sihua . Research on the Impact of Capital Structure on Financial Performance —— An Empirical Study Based on ChiNext Listed Companies [J ] . North China University of Economics and Business , 2024 , ( 09 ): 93 - 97 .

Xiao Yao . Research on the Impact of Capital Structure on Performance of Listed Securities Companies [D ] . Guizhou University , 2023 .

文章被引用时，请邮件提醒。

Submit

The Impacts of Internet Finance on the Profitability of Commercial Banks in China

Related Author

Huanan Li School of International Business, Jilin International Studies University

Related Institution

School of International Business, Jilin International Studies University

⁰