中小板上市企业成长性与成长环境实证分析

发布时间：2018-12-12 00:12

【摘要】：中小板上市企业是在我国深圳证券交易所中小企业板上市的具有良好成长性和较高科技含量的中小企业,大多为行业龙头或标杆,对其它中小企业的成长有着良好的典范作用;同时上市后的中小企业成长好坏关系着普通投资者的收益与财富,关系着地区经济的推动与发展。因此,对这些中小板上市企业成长问题的研究就显得尤为必要,政府、企业及投资者只有在客观、全面把握企业成长状况,正确认识企业所处成长环境的基础上才能进行科学的决策。本文在借鉴国内外相关理论研究成果和大量文献资料的基础上,界定了我国中小板上市企业成长问题的研究内容---成长性和成长环境。文章通过理论结合实际,在明确中小板上市企业成长性与成长环境内涵的基础上,结合前人研究分别构建了评价我国中小板上市企业成长性与成长环境的两套指标体系,并以中小板502家上市企业为样本,利用突变级数法和ZWSJRSCK分析法得到30个省市地区的实证评价结果。但文章并不局限于对两者的单独评价分析,而是利用相关分析及多元回归模型对两者间的具体影响关系进行深入探究,然后得出实证分析结论。继而根据地区中小板上市企业成长性得分排名划分出成长性较高与较低的两组地区,通过分析重要环境因素对成长性影响的实际情况,验证实证模型结论的有效性。最后,针对本文研究成果提出一些提升我国中小板上市企业成长性的环境政策建议。
[Abstract]:Small and medium-sized listed enterprises are small and medium-sized enterprises with good growth and high-tech content listed on the small and medium-sized enterprises board of Shenzhen Stock Exchange of China. Most of them are leading or benchmarking of the industry, which has a good role in the growth of other small and medium-sized enterprises. At the same time, the growth of SMEs after listing is related to the income and wealth of ordinary investors and the promotion and development of regional economy. Therefore, it is particularly necessary to study the growth of these small and medium-sized listed enterprises. The government, enterprises and investors only have an objective and comprehensive grasp of the growth of enterprises. Scientific decision can be made only on the basis of correct understanding of the growth environment of enterprises. On the basis of reference of domestic and foreign relevant theoretical research results and a large number of literature, this paper defines the research content of the growth of small and medium-sized board listed enterprises in China-growth and growth environment. Based on the combination of theory and practice, and on the basis of defining the connotation of growth and growth environment of small and medium-sized board listed enterprises, combined with previous studies, this paper respectively constructs two sets of index systems to evaluate the growth and growth environment of small and medium-sized board listed enterprises in China. The empirical evaluation results of 30 provinces and cities were obtained by using catastrophe series method and ZWSJRSCK analysis. However, the article is not limited to the individual evaluation and analysis of the two, but uses the correlation analysis and the multiple regression model to explore the specific relationship between the two, and then draws the conclusion of empirical analysis. Then, according to the growth score of the small and medium-sized listed enterprises in the region, two groups of regions with high growth and low growth are divided into two groups, and the validity of the empirical model conclusion is verified by analyzing the actual situation of the influence of the important environmental factors on the growth. Finally, the paper puts forward some environmental policy suggestions to promote the growth of Chinese small and medium-sized board listed enterprises.
【学位授予单位】：浙江工业大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F279.2;F832.51;F224

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