海南省上市公司股权结构与公司价值研究

发布时间：2018-01-13 15:07

本文关键词：海南省上市公司股权结构与公司价值研究　出处：《海南大学》2012年硕士论文　论文类型：学位论文

【摘要】：迄今为止,海南上市公司的发展进程大致可以分为兴盛的发展初期、沉寂的发展滞后期和国际旅游岛建设的新生期。近年来,海南资本市场开始重新焕发活力,公司上市进程加快,上市公司质量提高。但总体来说,ST类上市公司的比重仍然较高,上市公司治理问题突出,持续盈利能力与价值创造能力较弱,股权结构混乱,证券市场投机气氛浓厚。本文针对海南上市公司存在的这些现象,试图从股权结构与公司价值关系的角度来找到一些解释。在搜集了大量翔实资料的基础上,本文使用了比较分析法、趋势分析法、归纳演绎法和统计分析法等研究方法,分析研究了海南上市公司股权结构与公司价值的关系,具体包含以下内容：首先阐述了股权结构与公司价值的一些基本理论,为后文的分析提供理论支持；接着分析了海南上市公司的概况,对其有了大致的了解；然后研究了海南上市公司的价值状况,重点是用EVA方法对海南上市公司进行价值评估；再后是对海南上市公司股权结构的研究,并具体分析了海南上市公司股权结构与公司价值的关系；最后从内部优化股权结构、外部改善资本市场环环境两个方面提出了政策建议。
[Abstract]:So far, the development process of Hainan listed companies can be roughly divided into the initial stage of prosperity, the silent development lag period and the new stage of international tourism island construction. In recent years, Hainan capital market has begun to rejuvenate. As a whole, the proportion of St listed companies is still high, the governance problems of listed companies are prominent, and the ability of sustainable profitability and value creation is weak. The stock structure is chaotic and the speculative atmosphere in the securities market is strong. This paper tries to find some explanations from the angle of the relationship between the ownership structure and the company value in view of these phenomena of Hainan listed companies. On the basis of collecting a large amount of detailed data, this paper uses comparative analysis, trend analysis, inductive deduction and statistical analysis and other research methods. This paper analyzes and studies the relationship between the ownership structure and the company value of the listed companies in Hainan, including the following contents: Firstly, some basic theories of ownership structure and company value are expounded, which provide theoretical support for the following analysis. Then it analyzes the general situation of Hainan listed companies, and has a general understanding of them; Then it studies the value of Hainan listed companies, focusing on the value evaluation of Hainan listed companies using EVA method; The second part is the research on the ownership structure of Hainan listed companies, and analyzes the relationship between the ownership structure and the company value of Hainan listed companies. Finally, some policy suggestions are put forward from two aspects: internal optimization of equity structure and external improvement of capital market environment.
【学位授予单位】：海南大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F279.27;F832.51;F272.5

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