发电企业可持续增长能力评价研究

发布时间：2018-04-18 04:38

本文选题：发电企业 + 可持续增长　；参考：《长沙理工大学》2013年硕士论文

【摘要】：在中国加入WTO和世界经济融合发展的大趋势后，发电企业借鉴了国外先进的管理理念，正在快速推进改革，但是随着体制改革的不断深入，发电企业在这一过程中面临的问题也逐渐凸现出来，其中最为主要的就是，财务费用正在不断攀升。随着我国经济的增长，全社会对电力资源的需求正与日俱增，根据中国统计局公布的数据，从2005年到2012年的8年中，我国全社会用电量平均每年以10.95%的速度增长，虽然这推动了发电企业销售收入的增加，但大部分利润都用来还贷，使得其所剩无几，从而严重阻碍了发电企业实现可持续增长。因此，通过分析发电企业目前的经营和财务状况，并以此建立量化的可持续增长能力评价模型，能够为其实现可持续增长发挥重要的作用。本文正是基于这样一个大背景下提出的。首先，文章对企业可持续增长的相关研究基础进行了叙述，接着以发电企业作为研究对象，系统分析了当前环境下能够影响发电企业实现可持续增长的因素，其中外部因素包括：电价政策、煤价放开政策、宏观经济形势、资本市场发展不健全、行业结构不合理等因素；内部因素包括：投资方式的不合理、筹资方式的单一性以及内部控制的不完善等因素。通过这些分析能使发电企业清楚地认识到其实现可持续增长的正、负影响因素，同时也为文章的进一步研究奠定了基础。然后，本文通过实证分析对企业的可持续增长进行了研究，构建了以原始财务指标为解释变量的发电企业可持续增长能力评价模型，同时通过把可持续增长能力总得分与可持续增长率进行回归分析，求出了模型总得分的取值范围，该部分是本文的核心及创新所在。最后，本文根据可持续增长能力评模型的驱动指标，提出了提高发电企业可持续增长能力的具体对策及建议，，包括：提高盈利能力、合理确定资本结构、提高资金利用效率、维持适当利润留存比率等四个方面。综上，从提高发电企业可持续增长能力，保证其实现可持续增长的角度来说，本文具有一定的借鉴意义。
[Abstract]:After China's entry into WTO and the trend of the integration and development of the world economy, power generation enterprises have borrowed advanced management concepts from abroad and are pushing forward the reform rapidly, but with the deepening of the system reform,The problems faced by power generation enterprises in this process are also gradually emerging, the most important of which is that the financial costs are rising.With the economic growth of our country, the demand for electric power resources in the whole society is increasing day by day. According to the data released by the China Bureau of Statistics, during the eight years from 2005 to 2012, the electricity consumption of the whole society in our country has increased at an average rate of 10.95% per year.While this has pushed up sales revenues, most of the profits are used to repay loans, leaving them with little left, seriously hampering sustainable growth.Therefore, by analyzing the current operating and financial situation of power generation enterprises and establishing a quantitative evaluation model of sustainable growth ability, it can play an important role in achieving sustainable growth.This paper is based on such a background.First of all, the paper describes the research basis of sustainable growth of enterprises, and then takes the power generation enterprises as the research object, and systematically analyzes the factors that can affect the sustainable growth of power generation enterprises under the current environment.Among them, external factors include: electricity price policy, coal price liberalization policy, macroeconomic situation, capital market development is not perfect, industry structure is unreasonable, internal factors include: unreasonable investment mode,The singularity of financing and the imperfection of internal control.Through these analyses, the power generation enterprises can clearly recognize the positive and negative factors that affect their sustainable growth, and at the same time lay a foundation for further research in this paper.Then, through the empirical analysis, this paper studies the sustainable growth of enterprises, and constructs an evaluation model of the sustainable growth ability of power generation enterprises, which takes the original financial indicators as the explanatory variables.At the same time, by regression analysis of the total score of sustainable growth ability and sustainable growth rate, the range of the total score of the model is obtained, which is the core and innovation of this paper.Finally, according to the driving index of the evaluation model of sustainable growth ability, this paper puts forward the specific countermeasures and suggestions to improve the sustainable growth ability of power generation enterprises, including: improving profitability, rationally determining capital structure, and improving the efficiency of capital utilization.Maintain an appropriate profit retention ratio in four areas.In summary, this paper has certain reference significance from the angle of improving the sustainable growth ability of power generation enterprises and ensuring its sustainable growth.
【学位授予单位】：长沙理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F426.61

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