资产结构是企业绩效的重要驱动因素。以沪市制造业2001-2008年177个公司样本和1416个数据为证据,采用净资产收益率,构建控制变量下固-流比例与公司绩效的多元回归模型,研究上市公司的固-流比例与公司绩效的关系,描述我国企业的固-流比例现状。实证结果是制造企业其平均固-流比例为86:100,表明固定资产技术水平较低,机器装备投资较少;流动资产占用比例过大。总体上,固-流比例与企业绩效正相关,但不具有显著性;固定资产比率与企业绩效正相关,但不具有通常的显著性;流动资产比率与企业绩效有不稳定的线性关系,影响方向时正时负。因此,增加技术投资比重,提高固定资产的科技含量,改进员工学习能力,已成为企业改善固-流比重和提高企业绩效的重要途径。 Asset structure is an important driver of business performance. Based on the sample of 177 companies in Shanghai manufacturing industry from 2001 to 2008 and 1416 data, using the return on net assets to construct the multiple regression model of the solid-liquid ratio and the corporate performance under the control variables, the paper studies the solid-liquid ratio of listed companies And corporate performance, describing the current situation of the solid-liquid ratio of Chinese enterprises. The empirical result is that the average solid-liquid ratio of manufacturing enterprises is 86: 100, indicating that the technical level of fixed assets is relatively low, the investment in machinery and equipment is relatively small, and the proportion of current assets is too large. In general, the solid-liquid ratio is positively correlated with the business performance but not significant. The fixed asset ratio is positively correlated with the business performance, but not with the usual salience. The current asset ratio has an unstable linear relationship with the business performance Positive direction when negative. Therefore, increasing the proportion of technology investment, increasing the scientific and technological content of fixed assets and improving the learning ability of employees have become an important way for enterprises to improve the solid-liquid ratio and improve their performance.