中直股份资产重组绩效案例分析

发布时间：2018-01-07 23:19

本文关键词：中直股份资产重组绩效案例分析　出处：《广东财经大学》2017年硕士论文　论文类型：学位论文

【摘要】：资产重组可以对经济结构进行调整,对企业资源进行合理配置。尽管资产重组能否对企业的经营绩效产生效应仍一直备受争议。但是该方式作为盘活企业存量资产的有效工具,已被广泛的应用到我国资本市场之中。因此,本文通过对中直股份资产重组前后6年(即2010~2015年)的经营绩效进行研究,借此希望能从中得出一些关于中直股份资产重组的经验和结论,以期能为目前中国国企改革重组方面提供一些思路和方法借鉴。本文一开始先对资产重组的相关理论和研究现状进行阐述,界定了资产重组绩效的经济学解释,接着以中直股份资产重组案例为研究对象,为了能够相对准确全面地衡量企业的资产重组绩效,克服传统会计指标的缺陷,本文采用财务评价、数理统计和比较分析等方法,建立一个以EVA评价指标与财务比率评价指标相结合的企业绩效评价体系来对中直股份2010~2015年经营绩效进行衡量。文章末尾得出结论如下:(1)中直股份资产重组理顺了业务结构,实现直升机业务整体上市。(2)中直股份的资产重组取得了初步的价值转移效应。(3)企业资产重组后要继续加强整合。然而,中直股份公司资产重组后企业的经营管理方面仍存有一些问题亟待解决。文章最后针对中直股份资产重组的结论中存在的问题从公司内部的经营以及外部的重组环境等角度为其提出了一些建议和对策。
[Abstract]:Asset restructuring can adjust the economic structure. The rational allocation of enterprise resources. Although whether asset restructuring can have an effect on business performance is still controversial, but this way as an effective tool to revitalize the enterprise stock assets. It has been widely used in China's capital market. Therefore, this paper studies the operating performance of China's direct equity assets before and after 6 years (i.e. 2010 ~ 2015). We hope to draw some experiences and conclusions about the reorganization of Chinese direct equity assets. In order to provide some ideas and methods for the reform and reorganization of state-owned enterprises in China at present, this paper first describes the relevant theories and research status of asset restructuring, and defines the economic interpretation of the performance of asset restructuring. Then take the case of asset reorganization of direct shares as the research object, in order to be able to relatively accurately and comprehensively measure the performance of asset restructuring, overcome the shortcomings of traditional accounting indicators, this paper adopts financial evaluation. Methods of mathematical statistics and comparative analysis. An enterprise performance evaluation system combining EVA evaluation index and financial ratio evaluation index is established to measure the performance of CSR from 2010 to 2015. At the end of the paper, the conclusion is as follows: (. 1) the reorganization of direct equity assets straightens out the business structure. The realization of helicopter business listed as a whole. 2) the direct shares in the asset restructuring has made a preliminary value transfer effect. 3) after the reorganization of enterprise assets to continue to strengthen integration. However. There are still some problems to be solved in the management and management of the enterprises after the assets reorganization. Finally, the problems existing in the conclusion of the assets reorganization of the direct shares are discussed from the internal management and the external reorganization of the company. Some suggestions and countermeasures are put forward from the point of view of environment.
【学位授予单位】：广东财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.5;F406.7

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