基于价值链的财务分析研究

发布时间：2018-10-31 15:52

【摘要】：随着当前经济全球化趋势的加剧,市场环境变得越发多变而复杂,企业如何保持和增强自身的竞争优势也变得尤为重要。在市场经济环境中,财务管理是企业管理的中心工作,而财务分析也是财务管理的核心工作。现行的财务分析一般只局限于财务报表分析,通过对一些财务指标的计算分析来对企业的盈利能力、营运能力、偿债能力和发展能力等状况进行评价。不过这样的财务分析方法通常只能帮助外部的利益相关者了解企业的经营状况,但难以为内部经营者做出有利于保持和提高企业竞争优势的决策提供帮助,也难以通过现行的财务分析针对暴露出的问题找到解决方法。因此,现行的财务分析的弊端显而易见,迫切需要引入新的分析工具来改善现行的财务分析。价值链管理作为一种全新的管理理念,以其广泛适应性和先进性被引入企业管理的各个方面。财务分析与价值链管理的结合也成为了必然的趋势。本文的研究思路是在阐释价值链和财务分析两者的理论基础上,讨论将价值链分析的思想引入财务分析的必要性和可行性。全文主要分为五个部分：第一部分：绪论。这是本文的第一章,主要包括选题背景与意义、关于价值链和财务分析的国内外研究综述以及本文的研究内容和研究方法。第二部分：财务分析和价值链的理论基础。这是本文的第二章,主要是对财务分析和价值链这两大理论的概述。对于财务分析理论,本文概述了财务分析的内涵与外延、以及财务分析理论的演变过程；对于价值链理论,本文概述了基本的价值链理论以及价值链分析的过程,为下文构建价值链导向下的财务分析打下了基础。第三部分：基于价值链的财务分析的必要性。这是本文第三章,该部分一方面揭示了现行财务分析的弊端和局限,另一方面展示了基于价值链的财务分析所具有的优势,通过这样的比对来说明基于价值链的财务分析在克服现行财务分析固有的缺陷方面的重要意义,从而揭示了采用这种财务分析的必要性。第四部分：基于价值链的财务分析的可行性。这部分包括本文的第四、五、六三章。本文第四章通过对杜邦分析法、EVA以及平衡计分卡的整合,试图构建一个基于内部价值链的财务分析综合指标体系。这一体系的构建一方面借助平衡计分卡量化了非财务指标,拓宽了财务分析的范围；另一方面借助价值链把财务分析深入到具体业务活动中,便于找出关键驱动因素即战略执行的重点,从而弥补了现行财务分析缺乏反映非财务信息和就财务论财务而忽视业务、忽视战略的不足。本文第五章根据价值链分析的过程,从企业内部价值链、产业纵向价值链和竞争者横向价值链三个层面入手,探索构建基于价值链的财务分析模式的具体步骤以及将其与战略成本管理进行有机结合的具体方法,从而找到一条将价值链分析引入财务分析的可行路径。本文第六章是案例分析。针对顺鑫农业这个样本,将上文所述的财务分析模式的构建和分析过程进行具体的展现,以案例实践的方式证明将价值链分析引入财务分析的可行性。第五部分：研究局限和未来研究方向。这是本文第七章,主要指出了这种研究的局限和不足以及未来继续研究的方向。总体来说,把价值链引入企业的财务分析中,能使企业的财务分析与企业的经营战略目标密切联系,也能帮助企业经营者找出解决问题、改善现状的方法,从而很大程度上克服了现行财务分析的局限,对于提升企业决策的有效性有重要意义。把价值链引入财务分析本身是一个较新的选题。纵观全文,理论基础部分主要是对前人研究的归纳总结。本文的主体部分也是主要贡献在于揭示基于价值链进行财务分析必要性和可行性。这种财务分析模式拓宽了现行财务分析的外延,把会计管理的范畴从企业内部延伸到企业外部,使会计管理脱离了会计主体的限制,具有创新意义。同时本文从企业内部价值链、产业纵向价值链和竞争者横向价值链三个层面构建这种财务分析模式,并把它与战略成本管理结合起来,也具有一定的创新性。当然,财务分析是一个在理论和实务中都非常复杂的问题。随着经济社会的不断发展,新思想、新方法的层数不穷,财务分析也面临巨大挑战。本人研究能力的不足和实践经验的匮乏导致本文在研究深度、广度以及实践应用方面还有很多局限和不足,需要未来进一步拓展、深入。
[Abstract]:With the aggravation of the current trend of economic globalization, the market environment becomes more changeable and complicated, and how to maintain and enhance its competitive advantage becomes more important. In the market economy environment, financial management is the center of enterprise management, and financial analysis is also the core of financial management. The current financial analysis is generally limited to the financial statement analysis, and evaluates the profitability, operation ability, debt service ability and development ability of the enterprise through the calculation and analysis of some financial indexes. However, such financial analysis methods usually only help the external stakeholders understand the business situation of the enterprise, but it is difficult to assist the internal operators in making decisions that are conducive to maintaining and improving the competitive edge of the enterprise, It is also difficult to find a solution to the problems exposed through the current financial analysis. Therefore, the drawbacks of current financial analysis are obvious, and new analytical tools are urgently needed to improve the current financial analysis. As a brand-new management idea, value chain management is introduced into all aspects of enterprise management with its wide adaptability and advanced nature. The combination of financial analysis and value chain management has also become an inevitable trend. This paper discusses the necessity and feasibility of introducing value chain analysis into financial analysis on the basis of explaining both value chain and financial analysis. Line. The full text is divided into five chapters. Part: First Part: Introduction. This is the first chapter of this paper, which mainly includes the background and significance of the subject selection, the research on value chain and financial analysis both at home and abroad, and the research contents in this paper. and research methods. Part II: Financial Analysis and The theoretical basis of the value chain. This is the second chapter of this paper, mainly for financial analysis and value chain. This paper summarizes the connotation and extension of financial analysis as well as the evolution of financial analysis theory. The Process of Value Chain Analysis to Build the Future of Value Chain under the Guidance of Value Chain Traffic analysis laid the foundation. Part 3: Price based The necessity of the financial analysis of the value chain is the third chapter of this paper, which reveals the drawbacks and limitations of the current financial analysis, and on the other hand shows the value chain. The advantage of the financial analysis of the value chain is explained by the comparison of the importance of the financial analysis based on the value chain in overcoming the inherent defect of the current financial analysis. The need for such financial analysis. Part IV: The feasibility of financial analysis based on value chain. The fourth, fifth and sixth chapters of this paper are divided into three chapters. In chapter 4, we try to build an internal system based on the integration of DuPont analysis method, EVA and balanced scorecard. The construction of this system, on the one hand, quantifies the non-financial indexes by means of the balanced scorecard, widens the scope of financial analysis, and, on the other hand, takes the financial analysis into specific business activities with the help of the value chain, which is convenient to find out. The key driver factor is the focus of strategy execution, which makes up for the lack of financial analysis in current financial analysis and the finance theory. The fifth chapter is based on the process of value chain analysis, from the inner value chain of the enterprise, the industry's longitudinal price, Starting with the three aspects of the value chain and the horizontal value chain of competitors, this paper explores the concrete steps of constructing the financial analysis model based on the value chain and the concrete method combining it with the strategic cost management. Introducing value chain analysis into financial points The sixth chapter of this paper is the case analysis. According to the sample of Shunxin agriculture, the construction and analysis process of the financial analysis model described above will be displayed in detail. Way to prove that value chain analysis is introduced into financial analysis Feasibility. Part five: Study limitations and future research directions. This is Chapter VII of this article, which mainly refers to By introducing the value chain into the financial analysis of the enterprise, the financial analysis of the enterprise can be closely related to the strategic target of the enterprise, and it can also help the enterprise operator to find the problem and change the problem. The current method of good condition has overcome the present situation to a great extent. The limitation of bank financial analysis is to improve the effectiveness of decision-making in enterprises. It is important to introduce the value chain into the financial analysis itself. The main part of this paper is the summary of the previous studies. The main contribution is to reveal the necessity and feasibility of financial analysis based on the value chain. This kind of financial analysis model has broadened the extension of the current financial analysis, and extended the scope of accounting management from the enterprise. At the same time, this paper builds up this kind of finance from three aspects: internal value chain, industry vertical value chain and competitor lateral value chain. Analysis mode, combining it with strategic cost management, also has certain Innovation. Of course, financial analysis is a very complex issue in theory and practice. With the economy The development of society, the new thought, the number of new methods are not poor, the financial analysis also faces great challenge. The lack of my research ability and the lack of practical experience have led to this paper in the depth of research,
【学位授予单位】：财政部财政科学研究所
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275

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