我国创业板上市公司经营绩效评价研究

发布时间：2018-01-30 05:40

本文关键词： 创业板上市公司经营绩效实证研究　出处：《北方工业大学》2012年硕士论文　论文类型：学位论文

【摘要】：2009年10月,创业板作为新兴资本市场一颗璀璨之星在深圳证券交易所正式拉开大幕。定位于创新型、科技型、成长型的创业板市场,被称为“中国的纳斯达克”。我国的创业板作为一个古老民族对科技兴国的呼唤,它的诞生意味着资本市场将迎来空前的活跃和繁荣。但是创业板的创建,更多的聚焦点落在中小高新技术企业身上,这些企业规模比较小,技术也不是很成熟、未来的市场发展前景有很多的不确定性。为此而对创业板经营风险不断增强不得不发人深思。目前对创业板的研究颇少,多数都还停留在规范性的研究阶段,实证研究相对较少,笔者认为采用一种性质有效的经营绩效评价方法对其经营业绩进行实证研究,无论从企业自身价值方面考虑还是从推动资本市场走强方面都有着重要、深远的意义。本文借鉴西方国家对企业绩效评价的经验,结合我国当前的实际情况,选取我国创业板上市公司为研究对象,综合运用经济学与管理学的相关理论,对我国创业板上市公司的经营绩效进行综合研究。其系统理论和模型的运用既包含了传统的财务绩效评价体系,又针对我国创业板上市公司的特色选取对经营绩效有重要影响的非财务指标作为经营绩效评价体系,笔者认为非财务绩效评价体系更有助于企业绩效长期的持续改善,对此本文更多的关注后者的重要性。本文在评价方法选用上,将财务绩效评价体系运用数理统计中的主成分分析法进行实证研究；将非财务绩效评价体系运用数理统计中的模糊综合评价法进行实证研究,然后将两模型分别运用到2011年7月《中国证券时报》颁布的“我国创业板上市公司20强”上市公司的实证研究中,实证结果得出20家企业经营绩效的相对排名,进而对其结论作出对比和分析,提出建议和展望。
[Abstract]:In October 2009, as a bright star of emerging capital market, gem officially opened in Shenzhen Stock Exchange. It is called "China's NASDAQ". As an ancient nation, China's gem calls for a rejuvenation of the country through science and technology. Its birth means that the capital market will usher in unprecedented vitality and prosperity. But the establishment of the gem. More focus on small and medium-sized high-tech enterprises, these enterprises are relatively small, technology is not very mature. There is a lot of uncertainty about the future market development prospect. Therefore, the increasing risk of the gem has to be thought-provoking. At present, there are few researches on the gem, most of which are still in the normative research stage. The empirical research is relatively few, the author believes that the use of an effective business performance evaluation method to its business performance empirical research. It is of great significance to consider the value of the enterprise and to promote the capital market. This article draws lessons from the western countries to the enterprise performance appraisal experience, unifies our country present actual situation, selects our country growth enterprise board listed company as the research object, synthetically uses the economics and the management science correlation theory. This paper makes a comprehensive study on the operating performance of listed companies in the gem of our country. The system theory and the application of the model include the traditional financial performance evaluation system. In view of the characteristics of the gem listed companies in China, non-financial indicators which have an important impact on business performance are selected as the performance evaluation system. The author believes that the non-financial performance evaluation system is more conducive to the long-term continuous improvement of corporate performance, and this paper pays more attention to the importance of the latter. The financial performance evaluation system is empirically studied by using the principal component analysis method in mathematical statistics. The non-financial performance evaluation system is empirically studied by fuzzy comprehensive evaluation method in mathematical statistics. Then the two models are applied to the empirical research of the Top 20 listed companies in China's gem issued in July 2011 by the China Securities Times. The empirical results show the relative ranking of business performance of 20 enterprises, and then make a comparison and analysis of its conclusions, and put forward suggestions and prospects.
【学位授予单位】：北方工业大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F275;F224;F832.51

【引证文献】