中国军工上市公司经营绩效评价研究

发布时间：2018-01-07 23:18

本文关键词：中国军工上市公司经营绩效评价研究　出处：《吉林大学》2015年硕士论文　论文类型：学位论文

【摘要】：作为国防工业的重要组成部分，传统的军工集团已不能应对日益严峻的国际经济、政治环境。为巩固提高军工集团的竞争力，中国出台一系列政策将专业化军工集团逐步整合为国防工业与证券市场相互促进、协同发展的军工上市公司。军工上市公司是国防工业与证券市场有机结合的产物，亦是军工企业发展的必然结果，军工上市公司的相关研究对中国国防、经济都具有极重大的意义。已有的研究多以资本结构、经营管理为视角，客观评价军工上市公司的经营管理，但缺乏对军工上市公司经营绩效的总体评价。虽然中国军工企业的股份制改造取得了一定的成果：军工上市公司技术过硬、市场开拓能力强，为提升中国国际竞争力、加快实现国防工业现代化发挥积极作用。但因军工上市公司的特殊性，经营管理中仍存在着国家政策时滞、理念陈旧等问题，导致一些军工上市公司的经营绩效不佳。因此，解决好中国军工上市公司的经营绩效问题对促进国防、经济和谐健康发展具有极大的理论与现实意义。鉴于此，本文以军工上市公司的经营绩效为研究重点，选取“十大军工集团”控股的30家以军工产品为主营业务的军工上市公司为研究对象，运用数据包络分析、风险价值估计、因子分析等计量方法对军工上市公司的经营绩效进行深入的分析和探讨，得到以下结论：中国军工上市公司的总体经营绩效较好，但经营绩效的排名不稳定，主要表现为军工上市公司的技术效率偏低，抵抗风险能力偏弱，业务能力分布不均衡，持续发展能力不足，人力资本能力较弱。鉴于军工上市公司既具有证券化、市场化的特点，又具有服务国防、全民共享的公共产品特殊性，本文从提升军工上市公司的技术效率，增强军工上市公司的抵抗风险能力，，完善军工上市公司的业务分布能力，优化军工上市公司持续发展能力，强化军工上市公司人力资本能力等角度提出解决问题对策建议，为提高军工上市公司经营绩效提供参考借鉴。
[Abstract]:As an important part of the national defense industry, the traditional military industrial group can no longer cope with the increasingly severe international economic and political environment, in order to consolidate and improve the competitiveness of the military industry group. China has introduced a series of policies to gradually integrate specialized military industrial groups into the defense industry and the securities market to promote each other. The military industry listed company is the product of the combination of the defense industry and the stock market, and is the inevitable result of the development of the military industry enterprise. The related research of the military industry listed company is related to the national defense of China. Most of the existing studies are based on capital structure and management to objectively evaluate the operation and management of listed companies in military industry. However, there is a lack of overall evaluation of the operational performance of listed military companies. Although the joint-stock system reform of Chinese military enterprises has achieved certain results: the listed companies of military industry have excellent technology and strong ability to open up the market. In order to enhance China's international competitiveness and speed up the realization of national defense industry modernization play a positive role, but due to the particularity of listed companies in military industry, there are still some problems in the management and management, such as the delay of national policy, the outdated concept and so on. Therefore, it is of great theoretical and practical significance to solve the operational performance problems of Chinese military listed companies to promote national defense and the harmonious and healthy development of economy. In view of this, this paper focuses on the operational performance of military listed companies, and selects 30 military listed companies with military products as their main business, which are controlled by "Ten military Industry groups". Using data envelopment analysis, risk value estimation, factor analysis and other measurement methods to conduct in-depth analysis and discussion on the operational performance of listed companies in military industry. The conclusions are as follows: the overall operating performance of China's military listed companies is good, but the ranking of operational performance is unstable, mainly for the military listed companies' technical efficiency is low, and the ability to resist risks is weak. The distribution of business capacity is uneven, the ability of sustainable development is insufficient, and the ability of human capital is weak. In view of the characteristics of securitization, marketization and service of national defense, the listed companies of military industry have the characteristics of securitization and marketization. The particularity of public products shared by the whole people, this article from the enhancement of the military listed companies' technical efficiency, enhance the ability of the listed companies to resist the risk, improve the ability of military listed companies' business distribution. In order to improve the performance of the listed companies in military industry, the author puts forward some countermeasures to solve the problems from the perspective of optimizing the ability of sustainable development of listed companies in military industry and strengthening the human capital ability of listed companies in military industry.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F426.48;E0-054

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