杠杆作用——对印度油气公司盈利能力的影响分析

P. Meghanathi, A. Chakrawal
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引用次数: 0

摘要

石油和天然气行业是印度的八大核心产业之一,在影响所有其他重要经济部门的决策方面发挥着关键作用。本研究的主要目的是研究和评估杠杆对印度石油和天然气公司盈利能力的影响。为此,研究人员根据市值选择了信实工业有限公司(RIL),石油和天然气公司(ONGC),印度石油公司(IOCL),巴拉特石油公司(BPCL)和印度天然气管理局有限公司(GAIL)等五大公司。在2016-17至2020-21研究期间使用了二手数据。为了分析杠杆和盈利状况,研究者将财务杠杆作为自变量,每股收益作为因变量。为了检验假设,研究人员使用了一些统计工具和技术,如单向方差分析、相关和回归。方差分析的主要结果表明,在研究期间,所选油气公司的财务杠杆和每股收益存在显著差异。相关结果显示,信实公司的财务杠杆与每股收益呈正相关,而其他公司的财务杠杆与每股收益呈负相关。回归分析发现,RIL、ONGC和IOCL的财务杠杆对每股收益没有显著影响,而BPCL和GAIL的财务杠杆对每股收益有显著影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Leverage’–An Analysis and its Impact on Profitability with Reference to Selected Oil and Gas Companies in India
Oil and gas sector is among the eight core industries in India and plays a key role in influencing decision making for all the other important sectors of the economy. The main objective of the study is to examine and evaluate the impact of leverage on profitability with reference to oil and gas companies in India. For that researcher has been selected top five companies like Reliance Industries Ltd (RIL), Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Gas Authority of India Ltd (GAIL) based on market capitalisation. Secondary data have been used during the study period 2016-17 to 2020-21. For analyzing the leverage and profitability position the researcher have been taken financial leverage as independent variable and earning per share as dependent variable. For testing hypothesis some statistical tools and techniques like one way ANOVA, correlation and regression have been used by researcher. The major findings of ANOVA indicated that there in significant difference in financial leverage and earning per share of selected oil and gas companies during the study period. Correlation results showed that there is positive correlation between financial leverage with eps in reliance but in all other company’s financial leverage is negatively related with eps. Regression analysis found that there is no significant impact of financial leverage on eps in RIL, ONGC and IOCL but in BPCL and GAIL financial leverage has significant impact on EPS.
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