山东钢铁集团重组整合及绩效研究

发布时间：2019-02-13 07:02

【摘要】：钢铁工业一直是重要的国民经济基础产业,是经济社会发展水平和综合实力的重要标志。自2005年版的钢铁产业政策发布,十年间中国钢铁产业取得了巨大的发展和非凡的成就,但同时也发掘出许多严重的问题。产业集中度低,产品结构矛盾突出,技术创新能力不强,生产布局不合理等加剧了产业结构失衡的矛盾。国际铁矿价格持续攀升,钢材价格大幅下跌,产品出厂价与市场价倒挂,这一系列问题已到了非解决不可的地步。研究正确的钢铁产业重组模式与途径,解决钢铁行业发展中存在的问题,对于促进中国钢铁工业持续健康协调的发展,在国际竞争中获得品牌优势,实现我国钢铁强国的战略目标来说具有非常重要的现实意义。本文首先归纳总结了不同结论的国内外企业并购重组绩效研究,并在这些案例的基础上,对山东钢铁集团有限公司重组这一典型案例进行分析,研究了重组对山东钢铁集团经营绩效的影响。本文的创新点在于将定性评价与定量分析相结合的方式应用于企业绩效研究中,通过调查研究重组前企业的重组动机和重组后所实施的整合措施,结合2010-2015年间修正的山钢集团财务指标的变化和杜邦分析法下的各关联指标进行深入研究,得出重组财务绩效为负的结论。然后,本文根据绩效研究结果,有针对性地提出了 4点能够切实改善山东钢铁集团重组绩效的建议。最后,总结了本案例对我国钢铁行业发展的启示,并展望了山东钢铁可预见的美好未来。
[Abstract]:Iron and steel industry has been an important basic industry of the national economy and an important symbol of the level of economic and social development and comprehensive strength. Since the 2005 edition of the iron and steel industry policy, China's iron and steel industry has made great progress and remarkable achievements in the past decade, but at the same time, many serious problems have been discovered. The low degree of industrial concentration, the prominent contradiction of product structure, the weak ability of technological innovation and the unreasonable layout of production aggravate the contradiction of the imbalance of industrial structure. International iron ore prices continue to climb, steel prices fall sharply, ex-factory prices of products and market prices upside down, this series of problems have reached the point of having to solve. To study the correct mode and approach of iron and steel industry restructuring, to solve the problems existing in the development of iron and steel industry, to promote the sustainable healthy and coordinated development of China's iron and steel industry, and to gain brand advantages in international competition. It is of great practical significance to realize the strategic goal of our country's iron and steel power. This paper first summarizes the different conclusions of domestic and foreign M & A performance research, and on the basis of these cases, Shandong Iron and Steel Group Co., Ltd. restructuring of this typical case is analyzed. The effect of reorganization on the operating performance of Shandong Iron and Steel Group is studied. The innovation of this paper lies in the application of qualitative evaluation and quantitative analysis to the study of enterprise performance. Combined with the modified financial index of Shangang Group from 2010 to 2015 and the related indexes under DuPont analysis, the conclusion that the financial performance of recombination is negative is obtained. Then, according to the results of the performance study, this paper puts forward four suggestions to improve the reorganization performance of Shandong Iron and Steel Group. Finally, this paper summarizes the enlightenment of this case to the development of China's steel industry, and looks forward to the foreseeable future of Shandong Iron and Steel.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.31;F271;F406.7

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