以EVA为导向的长庆油田分公司矿区服务事业部资本运营风险控制研究
发布时间：2018-12-13 17:09
【摘要】：长庆油田分公司矿区服务事业部(简称CQ矿区)的资本运营使企业能够通过投资、融资、兼并、收购、重组和产权交易等手段,实现资本的优化配置和资本价值的最大化,从而使企业竞争力得到全面提升。由于企业外部环境复杂且处在不断变化之中,而企业对其的发现和适应力有限,而企业对资本运营风险的控制对经营业绩必然产生影响,或导致资本运营风险,或资本运营无法完成既定目标,因此资本运营风险控制在CQ矿区经营过程中发挥着积极的作用,同时具有十分重要的研究价值。本文通过文献研究法对EVA业绩评价和资本运营风险的相关理论进行整理和分析,总结国内外学者的研究现状,归纳了理论核心要点。接着使用EVA业绩评价结果进行风险识别,后通过案例分析法、问卷调查法和杜邦分析法对案例企业的资本运营情况进行了详细的分析,解析CQ矿区的系统性风险和非系统性风险,并结合企业资本运营的实际情况,归纳出企业存在资本运营结构较单一、宏观调控影响较大、缺少科学的资本运营理念、缺乏高质量的资本运营人才储备,以及资本运营项目管理流程存在漏洞这五点主要的风险成因。针对上述风险的成因,本文重新构建了以EVA为导向的资本运营风险控制体系,并建议企业采取对资本运营理念、人才培养、多元化运营和对风险规避方式的探索等四个方面的完善和建设,提出了一套完整的解决方案,帮助企业实现对资本运营风险的全面控制。
[Abstract]:The capital operation of Changqing Oilfield Branch Mining area Service Division (CQ Mining area) enables enterprises to optimize the allocation of capital and maximize the value of capital by means of investment, financing, mergers, acquisitions, reorganization and property rights transactions. Thus, the competitiveness of enterprises has been comprehensively promoted. Because the external environment of the enterprise is complex and constantly changing, and the discovery and adaptability of the enterprise is limited, the control of the risk of capital operation will inevitably have an impact on the business performance, or lead to the risk of capital operation. Or capital operation can not achieve the established goal, so the risk control of capital operation plays an active role in the process of CQ mining area management, and has very important research value at the same time. Based on the literature research method, this paper collates and analyzes the relevant theories of EVA performance evaluation and capital operation risk, summarizes the current research situation of domestic and foreign scholars, and sums up the key points of the theory. Then use the results of EVA performance evaluation to identify the risk, and then through the case analysis, questionnaire and DuPont analysis of the case of the capital operation of a detailed analysis. By analyzing the systematic and non-systematic risks in CQ mining area and combining with the actual situation of enterprise capital operation, it is concluded that there is a single structure of capital operation in enterprises, which has a great influence on macro regulation and control, and lacks the scientific concept of capital operation. The lack of high-quality capital operation talents and the loopholes in the capital operation project management process are the five main risk factors. In view of the causes of the above risks, this paper reconstructs the risk control system of capital operation based on EVA, and suggests that enterprises should adopt the concept of capital operation and personnel training. This paper puts forward a set of complete solutions to the improvement and construction of diversification operation and exploration of risk aversion, which helps the enterprise to realize the overall control of the risk of capital operation.
【学位授予单位】：西安石油大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F275
本文编号：2376892
[Abstract]:The capital operation of Changqing Oilfield Branch Mining area Service Division (CQ Mining area) enables enterprises to optimize the allocation of capital and maximize the value of capital by means of investment, financing, mergers, acquisitions, reorganization and property rights transactions. Thus, the competitiveness of enterprises has been comprehensively promoted. Because the external environment of the enterprise is complex and constantly changing, and the discovery and adaptability of the enterprise is limited, the control of the risk of capital operation will inevitably have an impact on the business performance, or lead to the risk of capital operation. Or capital operation can not achieve the established goal, so the risk control of capital operation plays an active role in the process of CQ mining area management, and has very important research value at the same time. Based on the literature research method, this paper collates and analyzes the relevant theories of EVA performance evaluation and capital operation risk, summarizes the current research situation of domestic and foreign scholars, and sums up the key points of the theory. Then use the results of EVA performance evaluation to identify the risk, and then through the case analysis, questionnaire and DuPont analysis of the case of the capital operation of a detailed analysis. By analyzing the systematic and non-systematic risks in CQ mining area and combining with the actual situation of enterprise capital operation, it is concluded that there is a single structure of capital operation in enterprises, which has a great influence on macro regulation and control, and lacks the scientific concept of capital operation. The lack of high-quality capital operation talents and the loopholes in the capital operation project management process are the five main risk factors. In view of the causes of the above risks, this paper reconstructs the risk control system of capital operation based on EVA, and suggests that enterprises should adopt the concept of capital operation and personnel training. This paper puts forward a set of complete solutions to the improvement and construction of diversification operation and exploration of risk aversion, which helps the enterprise to realize the overall control of the risk of capital operation.
【学位授予单位】：西安石油大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F275
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