我国创业板上市公司成长性综合评价研究

发布时间：2018-01-11 12:13

本文关键词：我国创业板上市公司成长性综合评价研究　出处：《武汉理工大学》2012年硕士论文　论文类型：学位论文

更多相关文章： 成长性 上市公司 创业板 综合评价

【摘要】：始于1968年的美国NASDAQ市场,开创了全球创业板市场的先河,至今扶持了—大批在全世界闻名遐迩的巨头企业,例如微软公司、苹果公司、谷歌公司等。其对高新技术企业的推动以及对高成长性企业的扶持,使其成为全球各国争相模仿的样本。2009年10月,历经十年之久,我国创业板正式在深交所拉开了大幕。我国创业板的设立主要为中小型高成长性企业、高科技企业和新兴公司的发展提供便利的融资渠道,它是实施我国自主创新国家战略的重要的融资平台,是对建设我国多层次资本市场体系的重要补充。我国创业板上市公司的首要特征就是其成长性,它不仅是投资者关注的焦点,也是政府管理部门筛选以及监管上市公司的重要指标,更是创业板构建的基石。经过两年多的市场检验,创业板上市公司的成长性逐渐由投资者跟风热炒回归到理性分析。什么是成长性?成长性受哪些因素影响?如何评价和比较上市公司成长性的大小?对于这些问题的思考时刻萦绕着投资者以及广大关心创业板成长的研究者的心头。对于这些问题的解答构成了本文的研究思路。本文通过对理论界成长性文献的整理以及创业板上市公司成长性现状的分析,为创业板上市公司成长性提供了理论分析的框架,接着以此为逻辑线索,构建相应的指标体系与综合评价模型,随后佐之以实证,对我国创业板上市公司成长性情况进行了综合评价。本文由六大部分组成。第1章,绪论。主要介绍了本文的研究背景、目的以及意义,总结归纳了国内外学者关于企业成长性综合评价理论的研究现状,提出了本文的研究思路、方法。第2章,基本理论研究。通过创业版市场的发展起源、概念、特征的简介,描述创业板上市公司成长的宏观环境及其必然性。然后,还介绍了创业板上市公司成长性综合评价的基本理论即企业的成长性理论。第3章,我国创业板上市公司成长性因素分析。结合企业成长性基础理论以及我国创业板上市公司成长性的现状,构建“外部环境—企业内部资源能力—企业家因素”的三维成长性分析理论模型,为如何系统分析与评价企业成长性提供了规范的解决方案。第4章,创业板上市公司成长性综合评价模型的构建。主要介绍了综合评价模型的指标体系构建、评价力法的选择。分别从外部环境、企业内部资源、企业家因素三个方面选取20个指标,采用因子分析法作为评价方法。第5章,创业板上市公司成长性综合评价的实证研究。本章随机选取了2010年我国创业板市场50家上市公司,运用SPSS统计软件,对样本公司的成长性进行了综合评价,并对最后的实证结果进行了充分的阐述。第6章,结论与展望。主要对本文的研究过程进行回顾,并简单的展望了未来的研究方向。
[Abstract]:The NASDAQ market in the United States, which began in 1968, pioneered the global growth Enterprise Market, and has since been supported by a large number of world-renowned giants, such as Microsoft and Apple. Google and so on. Its promotion of high-tech enterprises and the support of high-growth enterprises, make it become a global competition to imitate the sample. October 2009, after 10 years. China's gem officially opened in the Shenzhen Stock Exchange. The establishment of the gem mainly provides a convenient financing channel for the development of small and medium-sized high-growth enterprises, high-tech enterprises and emerging companies. It is an important financing platform for implementing the national strategy of independent innovation and an important supplement to the construction of our country's multi-level capital market system. The most important feature of gem listed companies is their growth, which is not only the focus of investors' attention, but also an important indicator for the selection and supervision of listed companies by government management departments. After more than two years of market testing, the growth of listed companies in the gem has gradually returned from investors to rational analysis. What is growth? What factors affect growth? How to evaluate and compare the growth of listed companies? The thinking of these questions haunts the minds of investors and researchers who are concerned about the growth of the gem. The answers to these questions constitute the research ideas of this paper. Collate as well as the growth of listed companies on the gem analysis of the status quo. For the growth of gem listed companies to provide a theoretical analysis of the framework, and then as a logical clue, the corresponding index system and comprehensive evaluation model, followed by empirical evidence. The growth of listed companies on gem is evaluated. This paper consists of six parts. Chapter 1, introduction, mainly introduces the research background, purpose and significance of this paper, summarizes the current situation of domestic and foreign scholars on the comprehensive evaluation theory of enterprise growth, and puts forward the research ideas of this paper. Methods. Chapter 2, basic theoretical research. Through the development of the entrepreneurial version of the market origin, concept, characteristics of the introduction, describes the growth of gem listed companies macro environment and its inevitability. It also introduces the basic theory of the comprehensive evaluation of the growth of listed companies in gem, that is, the growth theory of enterprises. Chapter 3, the growth factor analysis of the gem listed companies, combined with the basic theory of enterprise growth and the current situation of the growth of gem listed companies. The theoretical model of three-dimensional growth analysis of "external environment, internal resource capability and entrepreneur factor" provides a normative solution for how to systematically analyze and evaluate enterprise growth. Chapter 4, the construction of growth comprehensive evaluation model of gem listed companies. It mainly introduces the index system construction of comprehensive evaluation model, the choice of evaluation force method, respectively from the external environment, enterprise internal resources. 20 indexes were selected from three aspects of entrepreneur factors, and factor analysis was used as the evaluation method. Chapter 5, empirical study on the comprehensive evaluation of growth of gem listed companies. This chapter randomly selected 50 listed companies in 2010, using SPSS statistical software. The growth of the sample company is comprehensively evaluated, and the final empirical results are fully expounded. Chapter 6, conclusion and prospect, mainly reviews the research process of this paper, and briefly looks forward to the future research direction.
【学位授予单位】：武汉理工大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51;F276.6;F224

【引证文献】