1995年《财富》杂志第一次发布同时涵盖工业、企业和服务性企业的《财富》世界500强排行榜，至今已是连续第27次发布。作为衡量全球大型公司的最著名、最权威的榜单，此榜单提供全球最大企业的最新发展趋势；通过纵向不同年份和横向不同行业的比较，既能了解企业的兴衰，也能解公司销售收益率、净资产收益率、全员生产效率等经营质量的变化。本文计算历年入榜企业的收益与利润两项指标的相关系数，以单位根检验、脉冲响应与长期趋势分析，检视实现企业利润最大化的过程中，利润是否促进收益的长期效果。研究结果显示，企业的收益与利润的相关系数整体上具有长期收敛性，其中前100强的表现更加显著，显示利润最大化仍是为企业最直接与最重要的运营目标。

关键词：《财富》世界500强、单位根检验、脉冲响应、长期收敛性、利润最大化

In 1995, Fortune magazine published the First Fortune Global 500 list of industrial, corporate and service companies, and it is the 27th consecutive publication. As the most famous and authoritative list of the world's largest companies, this list provides the latest trends of the world's largest companies. Through the comparison of different vertical years and horizontal different industries, it is possible to understand the rise and fall of enterprises, and to solve the changes in the quality of operations such as the company's return on sales, return on net assets, and full production efficiency. This paper calculates the correlation coefficients of the two indicators of revenue and profit of the listed enterprises, and examines whether the profit has the long-term effect of revenue promotion in the process of profit-maximizing of the enterprise by using the Unit Root Test, Impulse Response and long-term time trend analysis. The results of the study show that the correlation coefficient between the profit and revenue of the enterprise has a long-term convergence, of which the performance of the top 100 is more significant, showing that profit maximization is still the most direct and important operational goal of the enterprise.

Keywords: Fortune Global 500, Unit Root Testing, Impulse Response, Long-term Convergence, Profit Maximization